Solana at $117: Weekly Golden Cross Forms as Open Interest Hits $2.97B
- —SOL has reclaimed its 200-week moving average and is approaching the $118–$120 resistance
- —SOL open interest stands near $2.97B versus $25.84B for BTC and $16.97B for ETH
- —A sustained reclaim of $118 opens the next supply zone around $148
- —A long-term fractal suggests a $400–$500 cycle target, though it remains unconfirmed
Why it matters: Holding above $118 and confirming the weekly golden cross could extend SOL's recovery, but rising leverage raises the risk of sharp liquidations on a reversal.
Source: Brave New Coin