CandleFocus

Solana’s $225 Barrier Holds Strong as OI Peaks at $6.68B

Author: Content Editor
Solana's Open Interest (OI) has reached a new all-time high of $6.68 billion, indicating an influx of fresh capital into the SOL markets and potentially signaling optimistic price movements. However, SOL has faced resistance near the $225 mark, causing a retracement to the $199 level. This aligns with a critical Fair Value Gap (FVG) between $195.04 and $205.55, which historically acts as a magnet for price action. The 20-day and 100-day moving averages intersect within this FVG zone, strengthening it as a key short-term support. Despite the recent decline, the breakout from a symmetrical triangle pattern suggests potential bullish momentum and a potential recovery. If the bearish trend continues, SOL could break below the FVG and target the $180 support level. On the other hand, a strong recovery could lead to a retest of the 50-day moving average near $218 and a push towards the $225 resistance, opening up further bullish potential.

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