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

SOL

SOL/USDT

$121.01

+3.41%

$121.01

+3.41%

(24s)

24h Volume

$5,085,383,298.60

24h H/L

$122.94 / $116.96

Change: $5.98 (5.11%)

Long/Short

63.1%

Long: 63.1%Short: 36.9%

Funding Rate

-0.0062%

Shorts pay

Data provided by COINOTAG DATALive data

Solana

Daily

$120.58

▼ -1.29%

Volume (24h): -

Resistance Levels

Resistance 3$147.0984

Resistance 2$137.755

Resistance 1$124.3151

Price$120.58

Support 1$120.3167

Support 2$116.8807

Support 3$113.2367

Pivot (PP):$120.3167

Trend:Uptrend

RSI (14):66.9

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.