Solana Price Prediction: Why Solana Is Going Up?
Solana Price Prediction 2025: What’s Driving $SOL’s Next Move?
SOL Price Trends: From ATH to Consolidation
Since hitting $264 on November 22, the price of SOL has been trending downward, shedding 33.50% of its value. By December 20, it reached a low of $175, entering a consolidation phase. The daily chart highlights that the $175 zone has historically been a key horizontal support level, previously acting as resistance.
Currently, SOL's price is struggling to break through the descending channel's resistance near $210. A successful breakout could push Solana's price toward $260, nearing its all-time high (ATH) of $265.
On-Chain Insights: Whale Activity and Bullish Signals
On-chain data reveals that PumpFun recently deposited 63,171 SOL (worth $13.11 million) into the Kraken exchange. This activity coincided with SOL's price rebounding above $200 for the first time since mid-December, signaling potential bullish momentum.
Solana Exchange Liquidation Map
The Solana Exchange Liquidation Map highlights crucial price levels at $203.80 on the downside and $210.70 on the upside. These levels indicate a highly leveraged market, offering notable liquidation opportunities
A price increase to $210.70 could trigger the liquidation of around $44.76 million in short positions. On the other hand, a drop to $203.80 may result in the liquidation of approximately $83.38 million in long positions.
Solana Open Interest And Liquidations
Solana Futures Open Interest has climbed by 0.97% to reach $5.24 billion, signaling heightened market engagement. Meanwhile, trading volume has jumped by an impressive 15.12%, showcasing a notable increase in activity and liquidity within the SOL futures market.
Recent market data shows that SOL traders have liquidated $446.72K in short positions out of a total $641K in liquidations over the past four hours. This reflects strong bullish momentum in the market, with the possibility of more short liquidations on the horizon.
