- Solana sees renewed momentum with rising price, open interest and Defi TVL.
- Technical substance shows strength, but overbought signals suggest a short -term cooldown for another possible rally.
Solana [SOL] is back in the spotlight and shows signs of strength about various important statistics. The price has risen in the past week, accompanied by a sharp rise in the open interest (OI) and a remarkable increase in Defi TVL.
These developments draw the attention of both traders and long -term investors, while the sentiment is shifting around the ecosystem.
While speculation is warming up, it is the data that talks for the time being.
Futures Interest shows market beliefs
Solana’s open interest (OI) in Futures contracts climbed to more than $ 6.8 billion, the highest level since mid-March. This meant a strong revival of speculative activity.
The green curve in the graph shows a clear uptrend in OI as that of Solana [SOL] Price also collects. Positioning traders for further upwards, instead of covering only.
Source: Coinglass
This increase came alongside a competitive price run, which suggested that traders placed directional bets instead of simply hedgen.
In fact, the last three days only saw a vertical climb, pointing to a new momentum and rising speculative appetite.
TVL Surge indicates the rise in Solana
The total value of Solana has also seen a sharp revival, which shows enthusiasm about his Defi -eco system.
According to Defillama, TVL rose past $ 118 billion, a jump of almost 5% in 24 hours, which marked one of the strongest one -day profits in recent weeks.
Source: Defillama
This increase follows a steady April battery phase and is in line with a broader upward momentum about decentralized financing.
Momentum intact, but cooling signs appear
That said, Sol cooled slightly after the sharp rally. At the time of the press, token fell 2.77%and traded at $ 172.98.
Source: Coinmarketcap
Despite the pullback, technical indicators suggest that the Uptrend remains intact.
The RSI was just above 70, which indicates overboughteconditions, which can cause the profit in the short term. However, the MACD remained Bullish, with the blue line well above the signal line, which supports the case for further upwards.
Source: TradingView
If buyers enter again within the $ 170 level, Sol could try a new push to $ 185 or higher. Nevertheless, traders should pay attention to consolidation, because the current dip can be a healthy break instead of a reversal.