Bearish
Solana's open interest hits record 72M SOL amid bearish price trend
In the past week, Solana's SOLUSD has declined by 18%, reaching its lowest weekly close since late August. This downturn coincides with a record open interest of 72 million SOL in futures contracts, indicating increased bearish sentiment. Technical indicators, including a downward-sloping Relative Strength Index (RSI), suggest potential further downside toward the $120-$150 range.
Key points
- Record Open Interest: Solana's futures open interest has reached a new high of 72 million SOL, reflecting heightened bearish market sentiment.
- Price Decline: The SOLUSD pair has experienced an 18% drop over the past week, marking its lowest weekly close since late August.
- Technical Indicators: The Relative Strength Index (RSI) has decreased from 69 to 37, indicating increasing bearish momentum without yet reaching oversold conditions.
- Potential Support Levels: Analysts are monitoring the $120-$150 range as potential support zones if the downtrend continues.
Sources
- Solana open interest hits record 72M SOL: Why is price falling?TradingView News · September 3, 2026
- Solana Price Forms Bearish Double-Top As $60 Neckline Comes Into FocusBitcoinist · June 25, 2026
- Solana: BlackRock launches tokenized stablecoin reserve vehicle - 03 Aug 2026TradingView News · August 3, 2026
- Solana: Transaction V1 goes live - 09 Sep 2026TradingView News · September 9, 2026
AI-generated from public news sources. Not financial advice.
