Solana Price Prediction: SOL Holds $80 Amid Rising Open Interest

Solana (SOL) is trading around $80.85 at the time of writing, up 1.79% on the day. The token has added roughly $1.42 in the last 24 hours.

That move comes with some heavier context. Traders are watching open interest, funding data, and a widely shared chart comparing this moment to SOL's 2022 bottom.

Is Solana price going to drop again?

A popular trader account, Ted Pillows, posted a monthly Solana chart this week. The post compares SOL at $80 today to SOL at $40 back in 2022.

The chart marks the current candle with an arrow labeled "SOL is here." The author's view is that the last flush, meaning a sharp final drop before a reversal, has not happened yet.

This is one trader's opinion, not a guarantee. The monthly RSI reading sits at 42.41, which is neutral. It is neither deeply oversold nor overbought.

What is Solana's open interest today?

Solana's open interest has actually grown even as price barely moved. That gap between flat price and rising open interest is usually a sign new positions are opening rather than old ones closing.

Trading volume slipped even as open interest climbed. Options activity cooled off across the board too.

What is Solana's long-short ratio right now?

The table below breaks down where traders stand across different exchanges and metrics. A ratio above 1.0 means more accounts or positions are long than short.

The market-wide ratio sits close to even. On individual exchanges, more accounts appear to be leaning long, even though the broader number stays closer to neutral.

How much Solana has been liquidated today?

Liquidation data shows a mixed picture depending on the timeframe. Short sellers took the bigger hit over the last day, while longs got hurt more in the most recent hour.

Over 24 hours, short sellers lost the most by far. That kind of short squeeze can sometimes fuel a bounce, though it does not guarantee one continues.

What news is moving Solana this week?

Solana had a busy news cycle heading into this price action. Securitize, a tokenization platform, began trading on the NYSE under the ticker SECZ after merging with Cantor Equity Partners II.

Securitize immediately tokenized its common stock on Solana as part of that listing. This adds another real-world asset use case to the network.

Separately, the Solana Foundation activated a new governance framework on July 1.

Validators holding at least 100,000 staked Solana can now submit formal proposals, and individual delegators can override their validator's vote on these matters.

The altcoin is up 19.3% over the past week, according to recent market data. These developments around institutional adoption and validator governance may be feeding into that momentum, though correlation is not the same as cause.

Where is Solana price headed next?

Short-term direction for SOL looks undecided. The long-short ratio is close to balanced, RSI is neutral, and volume is actually falling even as price ticks up.

The heavier short liquidations over the past day suggest short sellers have been getting squeezed more than longs recently. That can sometimes fuel a bounce, but it does not guarantee one continues.

The 2022 comparison chart is food for thought rather than a forecast. Some traders think SOL could see one more sharp drop before a larger recovery. Others may see the current base as good enough.

Anyone watching SOL right now will likely keep an eye on whether open interest keeps climbing while volume stays soft. That combination is often a sign the market is building toward a bigger move, in either direction.

Disclaimer

This article is for informational purposes only and does not constitute financial, investment, or trading advice. Cryptocurrency markets are highly volatile and carry significant risk, including the potential loss of your entire investment. Past performance is not indicative of future results. Always do your own research and consult a licensed financial advisor before making any investment decisions.