- Solana price climbed near $100 as bullish momentum returned strongly
- Open interest approached yearly highs, signaling increased leveraged activity
- Analysts now watch the critical $110 to $138 resistance zone
The Solana price continued its upward move this week as bullish momentum strengthened across the crypto market. SOL traded near $98 at press time after gaining 1.73% over the last 24 hours. Rising futures activity and stronger technical structure have pushed the Solana price closer to the important $100 level, while analysts now monitor the next resistance zone between $110 and $138.
Crypto Tony stated that holding the $96.50 support level could provide a favorable setup for long positions. At the same time, futures data showed open interest climbing near yearly highs, signaling increasing leveraged activity around SOL.
Solana Price Gains Momentum as Open Interest Climbs
A sharp increase in open interest across futures markets has supported the latest Solana price rally. According to Velo data shared by analyst Ted, aggregated open interest reached nearly 27.77 million SOL, close to levels last seen in February.
Higher open interest usually reflects stronger trader participation and increased speculative positioning. When accompanied by rising prices, it often supports bullish continuation. However, analysts also warned that excessive leverage can raise liquidation risks if momentum weakens suddenly.
Solana Price Targets $110 to $138 Resistance Zone
Technical charts from More Crypto Online show the Solana price breaking above a recent consolidation structure. This breakout has shifted focus toward the next major resistance zone between $110.82 and $138.80.
That area includes several Fibonacci extension levels, such as 100%, 123.6%, 138.2%, and 161.8%.
Additional resistance levels remain visible higher on the chart. The broader recovery structure highlights possible upside targets near $142, $168, $216, and even $250 if bullish momentum accelerates later in the cycle.
Still, downside risks remain part of the setup. Key support areas remain near $62 and $43 if the current breakout fails.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
