High-volume optimism meets hesitant momentum as SOL stands at a technical crossroads.
- Solana Futures hit record volume on CME as institutions bet big on a potential rebound. Despite the bounce, technical indicators remain weak.
Solana’s [SOL] price may be hovering around $145, but big money isn’t blinking. With CME Futures volume at an ATH and Open Interest climbing past $6 billion, it seems the whales are doubling down on the bounce.
Solana Futures light up CME
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CME Futures volume for SOL soared to a record 1.75 million contracts on the 22nd of June, as institutional players pile in amid a price rebound toward $145.
But the timing is curious.
Source: Glassnode
The volume spike comes after weeks of sideways chop and a broader market lull. Notably, previous upticks in volume throughout May preceded sharp movements — so that this latest burst may be more than noise.
If history repeats, volatility is back on the menu — and SOL may not stay at $145 for long.
Stacked bets
As CME volume rockets to record highs, Open Interest is holding strong at $6.1 billion; its highest level since late March.
The chart reveals a decoupling: while Solana’s price has cooled from its Q1 highs, leveraged positions haven’t budged much. This stickiness in Open Interest, especially amid recent volatility, suggests traders are committing.
Source: Coinglass
The last time that OI was elevated during a price downswing, SOL rallied sharply in the weeks that followed. Now, with fresh volume and deep positioning returning to the market, the stage is set for a high-stakes move.
Whether it moves up or down, remains to be seen.
Solana momentum check
Solana’s price may have bounced off local lows, but the technicals are still throwing shade.
Source: TradingView
The RSI was at 45.7 at press time — so the recent green candles are more relief than reversal. Meanwhile, the MACD remained in bearish territory, with a flat histogram and no confirmed crossover yet.
Volume stayed muted, and the recovery has stalled just under $147, indicating that buyers aren’t exactly stampeding in.
For now, SOL’s rebound looks more like a breather than a breakout. Until momentum indicators flip, the bulls will have to fight harder for a comeback. Subscribe to our must read daily newsletter
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