3 Key Metrics That Point to a Solana (
$SOL ) Rebound Are Here
Hello Crypto Friends
How are your crypto assets today?
Solana is still struggling, but some signs suggest that a SOL price rebound may finally be on the way. Although the cryptocurrency has fallen by 1.58% over the past 24 hours, its growth trend is optimistic. With rising volatility, Bina volumes, liquidation numbers and continued open interest suggest that SOL may have bottomed out.
Solana rebound signals
In the past 24 hours, Solana has surged from a low of $195.39 to its current price level. Along the way, it broke through a major resistance level at $199.16. Despite the volatility, SOL remains above this level as investors evaluate the next move.
On the Bina exchange, SOL volumes surged 17.69% in 24 hours to $656,537,696. This is a significant signal, considering the user base and liquidity that Bina has. If trader buying activity on Bina is high, it may take some time before that activity slows down, leading to a price spike.
Futures traders’ exposure to Solana is also minimal, as shown by its liquidation data on CoinGlass. Overnight, only $8.67 million worth of SOL were liquidated, outperforming BTC, ETH, and XRP, respectively.
Additionally, SOL’s open interest is slightly high, with over 27 million SOL held by traders. This shows confidence in its prospects for a near-term higher price trend.
What’s next for SOL?
Amidst rising volatility, Solana’s price must buck the current volatility and stabilize its core metrics before reaching new growth milestones.
Do Your Own Research. . .
#SolanaStrong #SolanaDeFi