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Solana is currently consolidated just below the level of $ 180 after a strong rally, faced with a clear resistance while the bulls try to maintain the momentum. While the global structure remains optimistic, upward progress has stalled and the market enters a more prudent and tense phase. Buyers still have control, but they have trouble growing soil decisively thanks to this key barrier, keeping the price range in the short term.
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Adding to the intrigue, new Glassnod data reveal that Solana is the only top 10 in cryptocurrency (excluding stablecoins) with a negative financing rate. This could point out the first stages of short -term pressure construction on the derivative market. Negative funding suggests that traders are betting more and more against assets, even if the cash action is relatively firm.
This divergence between price consolidation and the growth of the lower positioning could act as a short -term catalyst if the bulls take up the momentum. Alternatively, this can allude to the hesitation of traders who see a limited increase in the immediate term. With feeling on the edge and key levels In play, the next Solana movement could set the tone for a wider behavior on the market in the coming days.
Solana faces a key test after the rally
Solana has been at a critical inflection point after gaining more than 95% in value since April. The explosive rally pushed soil to a major resistance area, where the previous supply has repeatedly capped the momentum. Now, bulls must confirm the upward trend by pushing above this level and by establishing a new higher range. A successful escape here could consolidate the upward structure of Solana and prepare the ground for a movement around $ 200 and beyond.
However, risks remain. While Solana has outlined most of the best assets in recent weeks, some analysts warn that the wider market of cryptography could approach a short -term correction. With the consolidation of Bitcoin near its heights of all time and macroeconomic conditions, any downward pressure could cause altcoins – including Solana – stronger before continuation.
Adding to uncertainty, Glassnode shared a Notable data point showing that Solana is currently the only top 10 of cryptography (excluding stablescoins) with a negative financing rate. At -0,0002%, it is a small change, but which can point out the first stages of the lower positioning among the traders in the long term. Negative financing means that the open sellers pay to occupy their positions, potentially indicating the growing short -term skepticism.
This divergence between bullish performance and subtle lower feeling in derivatives could set up a movement with high issues. If the bulls can absorb the pressure and the reversal of the resistance to the support, Solana could enter a new phase of prices discovery. But if the sale intensifies and the financing remains negative, a deeper decline can be on the horizon. For the moment, Sol is at a key decision point – and the next decision could set the tone for the coming weeks.
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Soil approaches resistance while the weekly structure becomes bullish
Solana (soil) is currently negotiated at $ 175.68 on the weekly graph, consolidating just below the resistance zone of $ 180. After a strong rebound more than $ 90 in April, Sol has won more than 95% and is now approaching a critical level which has historically acted as a supply area. The recent bullish impulse is notable, with three consecutive weekly green candles and a price now negotiating above the EMA from 34 weeks to $ 164.82, a level that previously capped upward attempts.
The 50 -week SMA at $ 169.48 was also recovered, strengthening the strength of the current movement. The volume remains stable, which suggests that the conviction of buyers is always intact while Sol grows in this area of resistance. The following key test lies in the question of whether the bulls can break and close above the area from $ 180 to $ 185, confirming a structural escape and opening the door to a potential remediation of the range of 200 to $ 220.
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Not to recover this area could cause short -term consolidation or mild withdrawal to 34 EMA or 50 SMA. However, the current trend promotes bulls, with higher stockings and stronger weekly fences indicating a sustained accumulation. If wider market conditions remain stable, Solana seems ready to try an escape in the coming weeks.
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