Solana has recorded four consecutive days of gains, with the token trading above $82, reflecting renewed short-term buying interest. Despite this upward momentum, the overall market sentiment remains mixed, as indicated by derivatives data. Funding rates for Solana futures have increased to 0.0067%, suggesting retail traders are optimistic about further price increases. However, a decline in total futures open interest to $4.97 billion signals reduced trader exposure and caution.
Institutional activity remains subdued, with Solana-focused ETFs experiencing a second consecutive week of outflows, totaling $5.24 million. This trend could dampen spot demand and limit stronger price advances. Technically, Solana faces resistance at the 50-day Exponential Moving Average near $88.80, while support between $75.63 and $77.60 provides stability. Momentum indicators suggest the recovery lacks strong momentum, with the Relative Strength Index below the midpoint and the MACD showing negative pressure.
Solana Rises for Fourth Day Amid Mixed Derivatives Sentiment
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