TLDR
- Soana Price broke over $ 180 when pump.Fun announced 50% revenue sharing for coin creators
- Derivate data shows 8.43% hope in open interest rate to $ 7.40 billion, signal inflows
- Technical analysis indicates potential targets of $ 190 $ 195 if Momentum is maintained
- Beareish Divergence Forming on 4-hour charts possibly suggests retracing to $ 165
- Solana leads Dex volume with $ 22.4 billion for seven days and surpasses Ethereum
Solana has recycled the land at $ 180 for the first time since mid -February and received 5.8% on Tuesday to reach $ 183.61. The price surplus comes when pump.Fun announced its new initiative of 50% income sharing for coin creators, which will distribute 0.05% in solar per trade to eligible creators.
The announcement gathered over 1.7 million views and drew fresh speculative and construction-driven interest in the solar ecosystem. This movement seems to be ready to drive adoption and stimulate continuous tokens launching the entire network.
The market players responded quickly to the news. The model includes all coins active trade, newly created or those as a pump swap, which further reinforces Solana’s role in the growing creative economy.
Solana’s price has increased by 22% over the past week, which shows a strong speed even though some regarding technical signals have begun to emerge.
The network continues to dominate decentralized exchange activity (DEX) by a large margin. Over the past seven days, Solana has posted $ 22.4 billion in Dex volume and exceeded Ethereum with over $ 6 billion and put it long before other competitors such as BSC, Base and Arbitrum.
Defi -Measurement values show strong growth
According to Defillama data, Solana’s total value increased from $ 7.5 billion in early May to $ 9.6 billion at the time of writing.
Leading platforms within the ecosystem have shown a remarkable growth, with marinade up 56%, Jito up 41%and Raydium up 78%.
The chain activity remains robust with revenue and transaction fees steadily climbing for four weeks and is approaching three months heights. With about 65% of sun stacked, the combination of growing defi use and limited circulating supply can support additional price increases.
But not every metric points to continued upwards. Solana’s total Stablecoin value value fell by 8% to $ 11.7 billion over the past seven days.
The high financing rate of 8% indicates that traders pay a premium to hold long positions, which often precede corrections in the short term.
Technical indicators show mixed signals
Soana is traded far above ever -increasing average values, with 10, 20, 50, 100 and 200 -day indicators, all of which show “purchases” signals, which confirms the strength of the current performance.
The daily lighting structure shows consistent closures above the Keltner channel base line, which reinforces strength in the current movement. Sun trends near the upper band at Keltner Channel, which suggests that a breakout attempt at the interval $ 190 $ 195 remains technically valid.
The presence of the raised lights since May 9, with the support of increasing volume, highlights renewed buyers’ conviction. The parabolic SAR to $ 154.80 remains well below the current price, which indicates that the trend force is intact.
However, Bearish signals have begun to emerge. The 4-hour chart analysis shows a clear baisse-like divergence formed in the interval 180 $ 185, which can signal the buyer fatigue.
The relative strength index (RSI) stands at 71.83, which indicates over -bought conditions that can cover short -term upward potential. The Bollinger bands are widened with Sun that shops near the upper bandusually before a period of correction or consolidation.
Derivative data points to increased market interest
Coinglass Derivat Trading Data shows increased capital inflows within the Solas Markets. On Tuesday, the Sol Open Interest jumped 8.43% to $ 7.40 billion, which showed new capital in the market.
Although the volume of trade decreased 18.26% to $ 16.13 billion, the increase in open interest rates indicates long -term positioning rather than short -term outputs. Alternative markets also show a mild rebound, with open interest rates up $ 5.01% to $ 13.13 million.
Long/short positioning data shows a mixed image. While some data sources indicate a rarely bias with long/short conditions of 2.31 on binance and 1.65 on OKX, other measurement values show short positions now outweighs long-term, with a 30-day low ratio of 0.8653 (53.61% short versus 46.39% long).
Over the past 24 hours, $ 19.46 million was liquidated in positions, with $ 14.44 million from shorts and just over $ 5 million in long positions closed.
Immediate resistance for sun is close to $ 185, while support is seen about $ 157 (20-day EMA) and potentially at $ 165, which analysts suggest can be tested if the current level does not hold.
If the sun price is decisively shut down over its current resistance, momentum can accelerate against the $ 195 mark or even the psychological $ 200 level of market conditions remain favorable.
