Solana (SOL) price demonstrated a sharp recovery this week after briefly slipping below its long-held $125 support zone. The price had fallen below this level—maintained since late 2023—sparking fears of a broader market breakdown.
However, the dip turned out to be a false breakdown, as the market quickly reversed to reclaim prior levels. SOL price surged 7.81% for the week, returning to a critical trading range between $129 and $144.
Analysts said this strong bounce and rising whale accumulation could support a fresh rally toward the $200 zone.
Derivatives Data Suggested Renewed Trader Interest
According to data from Coinglass, open interest climbed by 10.11% to reach $5.55 billion. Trading volume increased by 24.28% to reach $12.6 billion during this period.
The combined metrics showed that traders took more positions in anticipation of near-term market volatility. Both retail and institutional traders opened more positions due to their expectation of fast-moving p
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