Solana continued to bounce on Wednesday, and after an increase of about 4 per cent on the previous trading day, the price went back on the 50-day average. The short-term trade is dynamic because of the reheating of the market mood, but institutional funds are not reflowing simultaneously, leaving the sustainability of the recovery to be observed.

Futures trading activity is up.

Derivative data indicate that solana short-line risk preferences are improving. The CoinGlass data show that the SOL futures unsettled contract has been largely flat for the past 24 hours, at approximately $4.91 billion, indicating that the leverage position has not been significantly withdrawn.

At the same time, SOL futures will grow by 15 per cent to about $6.9 billion, reflecting the increased dynamism of market transactions and the increase in new slots. The maintenance of the financial rate at a positive range of about 0.040 per cent meant that many people were willing to pay the costs, and that the diaspora was optimistic.

  • SOL Futures Unsettled Contract approximately $4.91 billion
  • Futures are about $6.9 billion.
  • Funding rate approximately 0.040 per cent

ETF zero-inflow for two consecutive days

Institutional financial performance remains more restrained than the recovery in derivatives markets. SoSoValue data show that Solana ETF has recorded zero net inflows on two consecutive trading days this week, without new incremental funds.

This performance suggests that traditional investors still tend to look forward in the context of the overall rebound in the encryption market. The rising temperature of the bulk trade and the careful division of the institutional configuration may affect the continuity of the SOL rebound.

It's still holding up around $81.50.

In terms of price structure, SOL is now back on the 50-day average of $76.82, which is also higher than 50 per cent of Fibonacci's retreat of $76.92, and the short-line movement has improved more than before.

However, there is still a downward trend line in the vicinity of 81.50 dollars above, and the average of 200 days represents a further medium- and long-term resistance. If prices continue to grow stronger, the market will be concerned about the effectiveness of the break-through.

With regard to technical indicators, the relative strength and weakness index RSI is about 54, which shows an increase in purchases but has not yet entered the heat zone. The MCD is also approaching the formation of a rising cross, indicating a shift in kinetic energy from neutral to dominant.

The market will also focus on several supporting positions if subsequent sales are to pick up:

  • Daily average: $76.82
  • Prior period upward trend line: $68.88
  • Low point in current cycle: $60.13