- The open interest of Solana has walked in recent weeks – a sign of rising speculative trust
- Price promotion showed a divergence that could mark the start of a recovery
Solana [SOL] has recently seen an increasing bullish faith in the short term. The open interest climbed to $ 7.72 billion on 28 May. In fact, this figure seemed to be approaching the $ 8.57 billion mark that was on the press in mid-January at the moment in which the Solana price was a new recordhigh at $ 261.
Source: Coinglass
The rising OI trend has been playing in the game since March. SOL has also been a recovery path since then.
However, although it collected from $ 106 to $ 182, the Altcoin could not push $ 180 – a level that served as a resistance at the beginning of March.
The financing percentage had been negative in recent days, but it was positive at the time of the press. At the same time, the $ 152 level, which had been a short resistance ten days ago, acted as support.
Solana Bulls tried to stimulate a recovery of this level and at the time of writing seemed to be good.
Solana Bulls are preparing to recover recent losses
Source: SOL/USDT on TradingView
The level of $ 152 was defended on the 4 -hour graph. The MFI was a higher layer, while the price made a lower layer, which emphasized a bullish divergence. This divergence saw the prices of Solana in 8 hours with 3.7% and the H4 session on the press was also green.
Persistent boost for the Altcoin would depend on Bitcoin [BTC]. The OBV was back at the LOS points of May. Although it showed some sales pressure last week, it also showed that selling volume was not overwhelming.
Sol acted aware of the late April, but the OBV has not sunk that deep yet. In combination with the bullish divergence and the futures data, it turned out that a shift in sentiment could stimulate a price movement to $ 180.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer