Solana (SOL) short interest has risen over the past week, in tandem with the cryptocurrency’s move to the upside following a two-week period of range-bound trading.
As of May 14, 51.39% of the futures positions opened within the last 24 hours have been shorts, marking a noticeable change from May 8, when Solana’s short interest reached a low of 48.34%, according to data retrieved from crypto analysis platform Coinglass.
Solana short interest 1-month chart. Source: Coinglass
Short interest now sits at a one-month high, raising concerns that Solana’s recent rally, which has seen prices increase by 35.92% in the past month, may face near-term resistance.
SOL price 1-month chart. Source: Finbold
Is the increase in Solana short interest a sign that the SOL rally is coming to an end?
Despite the increase in short interest, it remains unlikely that SOL’s recent price action will see a true reversal in the short term. Before the rally, whales loaded up on Solana — and
We współpracy z: https://finbold.com/solana-faces-rising-short-interest-as-bears-step-in/
