Solana’s Impending Breakout: Stuck in the $140s but Poised for a Surge
Solana's price has been range-bound between $140-$160 since late May, currently hovering around $145 amid geopolitical tensions. Despite these challenges, technical indicators suggest an impending breakout, with oversold RSI and MACD readings hinting at potential upward momentum. This article delves into the factors holding SOL back and the signs pointing to a future surge.
Solana Price Prediction: Stuck in the $140s — What’s Holding SOL Back from Breaking Out?
Solana's price has retreated to $145 amid escalating geopolitical tensions in the Middle East, erasing most of its weekly gains. The altcoin remains range-bound between $140-$160 since late May, with macro headwinds overshadowing its strong fundamentals.
Technical indicators suggest an impending breakout. The converging resistance and support levels, combined with oversold RSI and MACD readings, point to potential upside. Trading volume remains robust at $4.2 billion, signaling sustained market interest.
While short-term price action reflects risk-off sentiment, Solana's ecosystem continues to mature. The blockchain's development pipeline includes significant upgrades that could drive long-term value appreciation, independent of current market conditions.
Solana Bulls Gain Momentum as Sentiment Shifts
Solana's market dynamics show a decisive shift toward bullish sentiment, with both retail and institutional traders aligning in their optimism. The cryptocurrency, trading NEAR $145, reflects this confidence through key metrics. Market Prophit's smart money sentiment score stands at 1.79, while retail traders on Binance hold long positions at a striking 74.83% ratio.
Futures activity reveals sustained buying pressure, with the 90-day Taker CVD indicator flashing a 'Taker Buy Dominant' signal. This convergence of positive indicators suggests underlying demand strength, even as prices consolidate within a narrow range. Short liquidations and stable funding rates further support the potential for upward movement without excessive leverage risks.
Yet the market faces a delicate balance. The extreme long positioning—evidenced by a 2.97 Long/Short Account ratio—could trigger cascading liquidations should prices fail to break upward. Such conditions demand careful monitoring of order FLOW and sentiment shifts in coming sessions.
Solana Eyes Trend Reversal as Bearish Momentum Fades Above $140
Solana (SOL) shows signs of a potential bullish reversal as multiple long-tail candles form above the $140 demand zone. The cryptocurrency's Open Interest surged to $6.67 billion this week, reflecting growing Optimism among traders.
Derivatives data reveals a bullish bias, with the OI-weighted funding rate at 0.0042% in the eight-hour timeframe. This suggests Leveraged positions are aligning spot and swap prices through buyer premiums—a classic sign of accumulating bullish pressure.
Technical indicators point to waning bearish momentum, coinciding with increased activity in Solana's derivatives market. The taker buy/sell ratio now favors accumulation, setting the stage for a potential trend reversal.
Gradient Network Secures $10M to Build Decentralized AI on Solana Blockchain
Gradient Network has raised $10 million in funding to develop decentralized artificial intelligence infrastructure on the solana blockchain. The project's dual-protocol architecture—Lattica for peer-to-peer communication and Parallax for distributed AI model execution—aims to disrupt the centralized AI paradigm by leveraging crowdsourced computing power.
The investment comes amid growing scrutiny of traditional AI systems' resource intensity and privacy vulnerabilities. Gradient's existing network has already processed 1.6 billion connections across 190 regions, demonstrating the scalability of its blockchain-based approach. Venture capital backers are betting this decentralized model could significantly reduce computational costs while enhancing data security.
Solana's high-performance blockchain serves as the foundation for Gradient's protocols, which are designed to partition large language models across ordinary devices. This technical breakthrough addresses a critical bottleneck in decentralized AI systems—the ability to run complex models without centralized server farms.
