In contrast to the majority of relief bounces we have witnessed on the market over the past month, Solana finally made a clean impulsive move with structural support. The combination of a sharp spot bid, a massive shift in futures positioning and an actual break in momentum makes this the strongest setup SOL has printed since early October.
Technical breakdown
The figures are clear: in less than a day the total trading volume on major venues increased by over $17.9 billion, with the largest inflows coming from Binance, Bybit, OKX and MEXC. Solana's long/short ratios finally entered a structurally bullish zone; on several exchanges, spot flows turned sharply positive and futures open interest increased rather than decreased.
SOL/USDT Chart by TradingView
That is exactly the combination you want to see when the market is trying to reverse a multiweek downtrend. Technically, the chart backs the shift. Following a severe bleed in November that drove SOL well below its 200-day moving average and produced a clear oversold structure on RSI, the asset confidently recovered the $140-$145 range and broke above the short-term trendline.
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This was not some low-volume dead-cat bounce; the volume spike is one of the largest since SOL’s October breakout, and it came with proper follow-through. Does this guarantee a sustained recovery? No. SOL will be dragged along with the rest of the market if Bitcoin continues to set the macro tone.
Solana's big potential
In contrast to BTC or ETH, Solana has already flushed the majority of its leveraged longs in November, and sentiment has reset much deeper. That gives SOL room to move on relatively modest inflows. The next stage is straightforward: SOL must stay above the $138-$142 range and move in the direction of the 50-day EMA.
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If that breaks, $160-$165 becomes the main goal and the first concrete indication that the correction is waning. If it does not work, the asset will most likely retest the $125-$130 range before making a significant effort to recover. Right now, though, the data points to a genuine shift, the strongest since October, and investors should expect elevated volatility, stronger spot demand and a reasonable probability of continued upside in the near term.
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