In futures contracts, the funding charge displays the price of holding lengthy or quick positions. When it turns constructive, it signifies greater demand for lengthy positions, sometimes a bullish indicator. Solana’s funding charge surge means that merchants anticipate the asset’s value to rise, particularly because the crypto market bounces from its September lows.
This rise in funding charges proper after the dovish NFP figures hints at additional upside for SOL within the coming weeks. Traders betting on extended bullish momentum will doubtless preserve these lengthy positions if the macroeconomic atmosphere continues to favor danger property like cryptocurrencies.
Solana Worth Forecast: SOL May Reclaim $150 in September
Technically, Solana exhibits potential for additional good points. Utilizing the Bollinger Bands (20, 2), SOL’s value is approaching the center band, suggesting the asset could also be getting into a restoration part.
A break above $130 might affirm a bullish reversal, with the primary key resistance at $140.64. If bulls preserve management, SOL might rally towards the subsequent main resistance at $161.85.