Solana News Today: Solana Rebounds 16.78% as $150–$160 Demand Zone Gains Buying Interest

Solana (SOL) has re-entered a key demand zone between $150 and $160 following a sharp correction from its July peak above $206. This range has historically acted as a strong support level and currently shows signs of attracting renewed buyer interest. A successful retest of $160.50 has already triggered a 16.78% short-term recovery, reinforcing the zone’s significance in the near-term price action [1].

Technical indicators also suggest the potential for a rebound. Volume metrics show increased activity near the $150–$160 range, aligning with the 0.618 Fibonacci retracement level, a key technical threshold. The RSI has cooled to 42.43, moving away from overbought territory, while the MACD histogram remains negative but shows signs of a possible trend reversal [1].

Institutional interest in Solana is on the rise, with CME SOL futures open interest surging 370% to $800 million. This increase coincided with the approval of the first U.S. Solana staking ETF, signaling a shift in institutional sentiment toward the asset. Analysts note that $73 million in short positions are stacked above $170.4, creating the conditions for a potential short squeeze if the price surpasses $166.8 [1].

From a technical perspective, the 50-day and 200-day moving averages currently support the $161 level, offering a solid foundation for a bullish continuation. The alignment of strong institutional demand with favorable technical indicators increases the likelihood of a price rebound, especially if the $166.8 resistance is convincingly broken [1].

The $150–$160 range is more than a psychological level—it is a confluence of historical support and technical structure. A successful defense of this area could lead to a 16% rebound, making it a critical focal point for traders and investors. The presence of short-term short positions in the upper $170s further amplifies the potential for a short squeeze scenario should the price break above key resistance levels [1].

As Solana’s price action continues to evolve, market participants are closely watching both institutional positioning and on-chain data for further confirmation of the asset’s near-term trajectory. The combination of rising open interest and short position exposure suggests that volatility is likely to increase in the coming weeks, especially if the price tests key levels again [1].

Source: [1] Solana (SOL) Revisits $150–$160 Demand Zone Amid Potential 16% Rebound and Short Squeeze Possibility (https://en.coinotag.com/solana-sol-revisits-150-160-demand-zone-amid-potential-16-rebound-and-short-squeeze-possibility/)