Solana Primed for $300 Surge as Derivatives Market Flips Bullish

Solana's price action just got interesting—derivatives traders are piling in, and the $300 target is back in play.

Why the sudden optimism? Open interest and funding rates scream bullish. The smart money's betting SOL shakes off its sideways grind.

Meanwhile, Bitcoin maxis are sweating—nothing rattles HODLers like an altcoin stealing the spotlight.

One hedge fund manager quipped, 'We'll believe it when we see the leveraged longs actually get paid.' Classic finance cynicism.

• SOL must close daily above $140 to unlock a largely clear path toward the $280–$300 highs seen in March.
• Derivatives volume jumped 17 % to $14.7B while funding stayed positive, signaling persistent long demand.
• Shorts lost $8.3 million in 24 h liquidations; a clean break of $160 could propel SOL toward $180 next.

Solana (SOL) has slipped out of a six-week downtrend channel, offering the spark of hope that this decline can be followed by a long uptrend that will send its value skyrocketing. crypto Patel disclosed that the coin must close above the psychological price wall value of $140 per day. The structural resistance is minimal on the way to current levels and a $280 to $300 range last observed in March in case that condition comes into reality.

Source: X

Derivatives Boom Triggers Solana Short Squeeze

According to Coinglass, 24-hour volume increased by 16.95 percent to reach the momentary amount of 14.69 billion, As open interest on futures inched up 1.66% to $6.94 billion. The OI-weighted funding rate stands at 0.0065 %, and this indicates that long holders continue to pay shorts to hold on.

Liquidation markets, indeed, illustrate the changing mood; some 10.75 million worth of positions were recently liquidated over the last 24 hours. Shorts lost $8.31 million and. Longs lost just $2.44 million, implying that bears had been mostly taken by surprise and had to cover, which increased pressure upwards.

Source: Coinglass

Bullish Staircase Eyes $160

The switching of momentum is highlighted by using short-term charts. solana has been trending higher by forming an escalator of higher lows since hitting a low at less than $130 toward the end of last week. Price is now trading side by side with a rising trendline at the level of resistance at $160. Bulls successfully defended the area of 145-148 two times, so it became the initial support, which inflects a new background of the uptrend.

The MACD signal line has been crossing the MACD line above on the four-hour chart, the first time since June 15, with its line at 1.41 against the signal line at 1.11 and printing its histogram in green bars. Although the bars are still tame, the crossover is usually preliminary to more severe breakouts when it is the result of an extended pullback such as this one.

Source: TradingView

Traders are thus keeping a laser focus on $160. After the break, the reversal of the trend will be confirmed by a clean close above that line on increased volume, which WOULD place $168, later $180, near-term in play. Any attempts to break through failure to do so, especially where the MACD histogram is being reduced, may alert profit-takers and compel a retest of support.

Looking at it in a larger perspective, long-term investors are expecting positive outcomes. Layer-1 chain activity shows developer activity is high, and the recent stablecoin inflows indicate there is new capital settling in Solana. Along with a cooling of the macro headwinds since the June U.S. inflation report, the technical backdrop is bullish as long as the token manages to stay above its newly recovered trendline.

Concisely, the bulls of Solana have technical momentum, favorable metrics, and strengthening fundamentals. The ability to convert this break today to a full-blown sprint towards $300 is what will be determined at the battle of $160 in the sessions to come.