• Solana shows renewed strength with strong buying activity, signalling a rebound in investor confidence.
• Analysts highlight the $190–$200 range as a key consolidation phase before the next potential rally.
• Traders maintain control above crucial support levels, keeping the short-term market outlook optimistic.

Solana (SOL) has gained strength following recent lows in the market, currently trading at $197 with an 8.97% rise in the last 24 hours. The trading volume has increased by 15.44%, and it currently stands at $11.53 billion. The movement suggests a revival of investor action and increased confidence among short-term traders who place positions with a possible recovery.

Source: CoinMarketCap

In the last week, Solana fell by 15.4%, which indicates persistent volatility in the market. However, consumers have reentered the market at the 190-200 level. Analysts view this stage as healthy consolidation after the previous correction. The price structure exhibits the efforts of stabilizing the price structure before the next directional breakout.

Solana Shows Strength in Retest Phase

Crypto analyst BitGuru highlighted that Solana is already showing the signs of recovering strength. Having retreated from the $253 level, the token is currently consolidating around the level of $190. He defined this as a retest phase, which implied a base formation before a fresh upward trend. As long as buying activity continues, the formation indicates the readiness of another bullish move.

Source: X

Furthermore, another analyst, Crypto Tony, revealed that Solana has a strong position beyond the support zone of $175. He believes there could be a possible upswing to $203, after which it would bounce back. The $190 level is crucial to the preservation of market confidence. As long as the buyers protect that range, the short-term trend is favorable.

Source: X

Also Read: Solana Price Surge: Can It Hold $190 Support and Rise Further?

Rising Volume and Open Interest Reflect Active Market

According to CoinGlass data, the trading volume increased by 43.25% to $32.91 billion with more participation in the market. Open Interest increased by 7.66% to $10.40 billion and represents increasing speculative involvement. The OI-weighted funding rate is at -0.0449%, which corresponds to balanced sentiment between long and short.

Source: CoinGlass

Liquidation data provides additional insight into the current trader activity. Over the past 24 hours, total liquidations of SOL were 43.73 million. The total number of long positions is $18.78 million, whereas short positions are $24.95 million. These numbers imply a higher level of leverage utilization without panic selling. The market participants seem to be controlling risk within expected limits.

Source: CoinGlass

The general performance is optimistically favorable on Solana. The near-term sentiment is still characterized by price action around the figure of $190. The levels of volume and liquidation stability are sustained and indicate steady stabilization, but not another downturn. Under current conditions, it is possible that Solana will continue its upward trend to the $200 and $210 level, which will be considered a strong recovery level for the asset.

Also Read: Binance Coin (BNB) Rally Signals Market Comeback After Major Correction