CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-05-14 05:24:13

Solana eyes $200 as improving DeFi metrics signal more upside ahead

Solana is back in the spotlight as it reclaims the $180 mark for the first time since mid-February amid rising decentralized finance metrics. Thanks to a solid technical setup and growing interest in its DeFi ecosystem, the price has increased 6% over the last day and 22% over the last week. Solana’s ( SOL ) open interest has also risen by 11.08%, as per Coinglass data . This implies that there are more traders entering the market with new contracts, which usually indicates growing investor confidence. According to DeFiLlama data , Solana’s total value locked increased from $7.5 billion at the beginning of May to $9.6 billion at the time of writing. Leading the charge have been platforms like Marinade (up 56%), Jito (up 41%), and Raydium (up 78%). Additionally, weekly decentralized exchange volumes increased, rising from $18 billion the week before to $22 billion last week. Chain activity remains strong. Revenues and transaction fees on Solana have been steadily climbing for four weeks, nearing three-month highs. With 65% of SOL staked, a combination of the demand from DeFi usage and the limited supply could support price growth. But not every metric is positive. Solana’s overall stablecoin market capitalization dropped by 8% to $11.7 billion in the past seven days. At 8%, the funding rate indicates that traders are paying more to hold long positions, which is a sign of bullish sentiment but also one that frequently precedes short-term corrections. You might also like: Solana price prediction: rare pattern shows SOL rally is just starting Technicals confirm strength, though caution is warranted. SOL is trading significantly above all of the major moving averages, with the 10, 20, 50, 100, and 200-day EMAs and SMAs all displaying “buy” signals. This confirms a strong upward trend. However, overbought conditions are indicated by the relative strength index, which is at 71. Solana price analysis. Credit: crypto.news The Bollinger Bands are widening, and SOL is now trading close to the upper band. This typically comes before a period of correction or consolidation and indicates high volatility. Immediate resistance lies near $185, the top of the current band. A breakout above this could open the path to $200. On the downside, support is seen around $157 (20-day EMA) and $130, where the lower Bollinger band and previous consolidation zone align. Looking ahead, bullish momentum could continue if SOL breaks above $185 with volume. A rejection here, however, may trigger a pullback to support levels. While SOL remains 39% below its all-time high of $295, growing institutional interest, possible ETF approval, and upcoming upgrades like Firedancer suggest that the road to $200 seems more likely if market conditions hold. Read more: DigitalX taps SOL Strategies for Solana staking via BitGo

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta