SOL’s 30% Open Interest Drop Puts $68 Back In Focus

SOL

SOL/USDT

$103.48

+1.69%

$103.48

+1.69%

(24s)

24h Volume

$1,644,437,133.41

24h H/L

$104.37 / $101.60

Change: $2.77 (2.73%)

Long/Short

70.3%

Long: 70.3%Short: 29.7%

Funding Rate

-0.0002%

Shorts pay

Data provided by COINOTAG DATALive data

Solana

Daily

$103.72

▲ 1.76%

Volume (24h): -

Resistance Levels

Resistance 3$124.3278

Resistance 2$110.60

Resistance 1$106.317

Price$103.72

Support 1$100.9733

Support 2$95.25

Support 3$86.16

Pivot (PP):$102.31

Trend:Uptrend

RSI (14):65.2

Cointelegraph Staff

(10:39 PM UTC)

1 min read

Verified byJames Mitchell

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Solana (SOL) futures dropped sharply in May as traders reduced leveraged exposure across all exchanges. SOL open interest (OI) dropped to $1.90 billion on Thursday from $2.75 billion on May 11, a 30% decline, while funding rates remained close to neutral. The combination points to weakening investor sentiment as SOL eyes a retest of its yearly low at $68.