Solana Price Forecast: SOL Extends Rally as Open Interest Soars to Record $13+ Billion
Solana's bull run isn't just continuing—it's accelerating with unprecedented market momentum.
Open interest hits staggering $13 billion milestone
Traders pile into SOL positions as derivatives activity explodes, pushing open interest to levels that would make traditional finance veterans blush—though most of them still think blockchain is something you use to secure bicycles. The surge reflects massive institutional and retail confidence despite recent market volatility, with options flow and perpetual swaps driving much of the action.
Market dynamics fuel relentless upward trajectory
Liquidations remain relatively contained given the volume spike, suggesting this isn't just leverage-driven euphoria but sustained organic demand. The network's recent performance upgrades and growing NFT ecosystem create fundamental support that even crypto cynics can't easily dismiss—though they'll certainly try while adjusting their portfolios in private.
When traditional finance finally understands what's happening, they'll probably try to create a synthetic version that underperforms while charging 2% management fees.
Solana’s Open Interest hits a record
CoinGlass’ data show that the futures’ OI in Solana at exchanges reached a new all-time high of $13.08 billion on Monday. An increasing OI represents new or additional money entering the market and new buying, which could fuel the current Solana price rally.
Solana Open Interest chart. Source: CoinGlass
Another aspect bolstering the platform’s bullish outlook is a recent surge in traders’ interest and liquidity in the solana chain. Artemis Terminal data shows that SOL Chain’s decentralized exchange (DEX) trading volume rose from $2.6 billion on August 17 to $7.1 billion on Sunday.
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Solana DEX volumes chart. Source: Artemis
Some signs of optimism for Solana
Solana gained bullish momentum after key news announcements last week, reigniting optimism around the token.
Bullish (BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services, announced that it has received $1.15 billion of proceeds from its recently completed initial public offering in stablecoins in the US, with most of these stablecoins minted on the Solana network, boosting ecosystem demand.
Adding to this optimism, Solana will debut at the All-In Summit 2025 in September. Superteam UAE has announced “Solana City,” a real-world coworking hub in Dubai, and a new Wyoming stablecoin — the first stablecoin issued by a US state —is coming to Solana, signaling growing global adoption and ecosystem expansion.
Solana Price Forecast: SOL bulls aiming for record highs
Solana price found support around its 50-day Exponential Moving Average (EMA) at $179.45 on Friday and ROSE nearly 16% by Sunday. At the time of writing on Monday, it continues to trade higher above $207.
If SOL continues its upward trend, it could extend the rally toward its next daily resistance at $230. A successful close above this level could extend gains toward its all-time high of $295.83.
The Relative Strength Index (RSI) on the daily chart reads 62, above the neutral level of 50, indicating strong bullish momentum. Moreover, the MACD indicator also showed a bullish crossover on Friday, further supporting the bullish thesis.
SOL/USDT daily chart
However, if SOL faces a correction, it could extend the decline toward its 50-day EMA at $179.45.
