Solana Price Targets 14% Surge as New Buyers Flood In – Key Metrics Signal Bullish Momentum

• Why Is Solana’s SOPR Metric Crucial for Price Prediction?
• Are Derivatives Markets Signaling Sustainable Growth?
• What Key Price Levels Should Traders Watch?
• Solana Price Outlook: Expert Takeaways
• Solana Price Analysis: Your Questions Answered

Solana (SOL) is showing remarkable strength, with its price surging over 14% in the past week to hover around $190. While still 35% below its all-time high of $260, on-chain data and derivatives metrics suggest this rally might just be getting started. The Spent Output Profit Ratio (SOPR) indicates investors are holding for higher prices, while derivatives markets show healthy open interest growth without excessive leverage. With key resistance levels at $196-$199, a breakout could propel SOL toward $218 – a potential 14.7% gain from current levels. Here’s why traders are betting on Solana’s continued ascent.

Why Is Solana’s SOPR Metric Crucial for Price Prediction?

The SOPR ratio – which tracks whether sellers are realizing profits or losses – has become a critical indicator for SOL’s price action. When SOPR dips NEAR 1 (as seen on June 27 and July 19) before rebounding, it typically precedes price surges. Currently at 1.02, this suggests most holders aren’t rushing to sell, creating supply-side pressure that could drive prices higher.

Source: Glassnode

Are Derivatives Markets Signaling Sustainable Growth?

Solana’s derivatives tell an interesting story: funding rates sit at a moderate 0.0152% (bullish but not overheated), while open interest skyrocketed to $9.52 billion – its highest in months. This combination suggests new money entering long positions rather than reckless leverage, historically a reliable indicator of continued upside.

Source: Coinglass

What Key Price Levels Should Traders Watch?

SOL’s current battle revolves around converting the $196-$199 resistance zone into support. Success here could open the path to $218, while failure might test support at $183-$184. The BTCC research team notes that any drop below $168 could invalidate the short-term bullish thesis, though current market sentiment makes this scenario unlikely.

Source: TradingView

Solana Price Outlook: Expert Takeaways

1.: Profit-taking hasn’t disrupted the uptrend – a hallmark of healthy markets
2.: Growing open interest + reasonable funding rates = sustainable momentum
3.: The $218 target becomes viable if SOL holds above $196
4.: Only a breakdown below $161 WOULD significantly alter the bullish structure

This article does not constitute investment advice.

Solana Price Analysis: Your Questions Answered

What does SOPR above 1 mean for Solana?

An SOPR above 1 indicates most sellers are realizing profits, which typically reflects strong holder conviction. When combined with rising prices (as with SOL currently), it suggests investors expect further gains.

Why are Solana’s funding rates important?

Funding rates show whether longs or shorts are paying fees to maintain positions. Moderately positive rates (like SOL’s 0.0152%) indicate bullish sentiment without excessive leverage that could trigger liquidations.

How reliable is open interest as an indicator?

When open interest rises alongside price (as seen with SOL’s $9.52B OI), it confirms new capital entering the market rather than just short covering – making the trend more credible.