Crypto
Solana Price Stalls at $119.26 Amid Derivatives Market Long Bias
Solana's price has stalled at $119.26, but experts say this is not weakness.
The market has been consolidating just under a known resistance cluster, which could be a sign that buyers are accumulating energy for the next leg up.
Despite the short-term stalling momentum, Solana remains structurally bullish, trading nearly 40% above its 200-day simple moving average at $85.32.
The derivatives market is also suggesting a long bias, with open interest on Binance futures reaching over $1 billion and whales stacked long.