Funding rates have largely normalized post-correction, and perpetual futures OI has flushed, indicating a de-risking phase completion. On-chain, stablecoin velocity into Solana DEXs remains robust, signaling persistent demand. SOL's 200-day EMA provides formidable support near $118, a level where whale wallets have shown significant accumulation. The current spot bid at $120-$125 is absorbing latent sell-side pressure. 90% YES — invalid if BTC closes below $58K for two consecutive days.
SOL's MVRV-Z reset signals a local bottom forming near $110, validated by sustained high TVL and active addresses despite recent market chop. Perpetual funding rates are normalizing positively, indicating renewed long conviction without overextension. This $110 level acts as a robust order block from Q1 bounces. We see strong technical and on-chain confluence pushing prices above $110, maintaining prior macro bullish structure. [90]% YES — invalid if BTC closes below $58k daily.
Funding rates have largely normalized post-correction, and perpetual futures OI has flushed, indicating a de-risking phase completion. On-chain, stablecoin velocity into Solana DEXs remains robust, signaling persistent demand. SOL's 200-day EMA provides formidable support near $118, a level where whale wallets have shown significant accumulation. The current spot bid at $120-$125 is absorbing latent sell-side pressure. 90% YES — invalid if BTC closes below $58K for two consecutive days.
SOL's MVRV-Z reset signals a local bottom forming near $110, validated by sustained high TVL and active addresses despite recent market chop. Perpetual funding rates are normalizing positively, indicating renewed long conviction without overextension. This $110 level acts as a robust order block from Q1 bounces. We see strong technical and on-chain confluence pushing prices above $110, maintaining prior macro bullish structure. [90]% YES — invalid if BTC closes below $58k daily.
