Solana price has been in a bullish trend and has kept rising after small corrections. SOL price is in a correction phase and can lead to another bullish trend after a breakout. Trading volume is increasing slowly which can help to trigger a breakout. Recently, the price has witnessed a sharp fall while the open interest has increased. Lets connect these dots and predict the Solana price further movement.
Fundamentals we should know about Solana
Solana’s fundamentals remain a key support for the long-term outlook, even as the price corrects. The biggest catalyst is the Alpenglow upgrade, which aims to cut confirmation time from about 12 seconds to well under a second. Developers target a staged mainnet rollout between August and October 2026, and the exact timing depends on testing. Network usage is also strong. Stablecoin supply on Solana is above $16.4 billion, and real-world asset activity is growing. Institutional access has improved through spot Solana ETFs and brokerage support. However, ETF inflows fell for six straight months, from $419 million in November 2025 to $34 million in April 2026, which helps explain why price has lagged activity. A smooth Alpenglow launch and a revival in ETF demand could strengthen the case for $130 and beyond, while delays may keep SOL range-bound.
Solana price overview
At press time, Solana coin was trading at $115.25 with an intraday loss of 3%. Its market capitalization was $67.859B and the 24-hour trading volume was $2.93B. Its circulating supply is 589.165M and the total supply is 635.382M.
Solana price technical analysis over 1-D timeframe
Solana price has experienced a strong bullish trend on a daily timeframe. The price has undergone a correction phase on a daily timeframe and a decent fall was detected on 7 October.
If Solana price holds over the immediate support level of $112.65 then buyers could remain in the game. If the price forms any bullish candlestick on this support level, buying momentum can be observed and the price could extend to the $150 mark. Rising volume and OI can work as a catalyst here.
Conversely, if the SOL price sustains below the $112.65 level then sellers may dominate further. If Bitcoin remains bearish then the Solana price can melt to the major support level of $97.
SOL Price Prediction: Open Interest Rises as Price Slips Toward $115
Solana price has witnessed a sharp drop on October 7 from the $118-$122 zone. Since then, price has made lower highs, and bears remain in control on the hourly chart.
The more interesting signal comes from derivatives. Aggregated open interest has climbed to roughly 23.9 million SOL, its highest level in this window, even as price fell. Rising OI during a decline suggests fresh positions are being added, likely new shorts, though some traders may be buying the dip.
Funding rates have cooled to around 0.0003%, close to neutral after briefly turning negative during the October 7 sell-off. This shows leverage is no longer heavily long-biased.
Outlook: Immediate support sits near $114-$115. A break below could open the way toward $112. If buyers defend this level, a short squeeze toward $118-$120 is possible, given the elevated open interest.
SOL price prediction: Can Solana hold above $115?
Solana has gained roughly 16% since early September, climbing from about $100 to around $116. The rally had strong backing: daily trading volume spiked to nearly $13.3 billion on September 19 and $13.8 billion on September 22, pushing SOL above $118 before it touched a local high near $122 on September 26.
Momentum is now cooling. After weeks of consolidation between $118 and $122, SOL dropped sharply on October 8. Volume has also climbed back to about $7.8 billion after a low near $3.2 billion on October 4, which suggests sellers are active in this move.
Traders will watch $110-$112 as the first support, with $97-$100 as a deeper floor. A rebound above $122 could open the way toward $130, while a failure to hold support may trigger a deeper correction. Rising volume will be the key confirmation signal.
Final thought
Solana price is in a short-term correction, and the near-term outlook is cautious rather than outright bearish. SOL is trading around $115 after a sharp drop from the $118-$122 zone, and lower highs on the hourly chart show that bears currently have the upper hand. Open interest is rising while the price falls, which suggests fresh short positions are being added, but funding rates near neutral mean the market is not overloaded with longs.
If buyers defend the $112-$115 support zone, a short squeeze toward $118-$120 is possible, with $130 coming into play only above $122. A close below $112.65, especially with a weak Bitcoin, could pull SOL toward $97-$100. Reaching $150 would need a sustained breakout, strong volume and Bitcoin support, so it remains a medium-term scenario rather than a base case.
Can Solana price rebound to $150?
Not in the short term. The nearer targets are $118-$120 and then $130 if SOL breaks above $122. Reaching $150 would need a sustained breakout, rising volume and a supportive Bitcoin, so it is a medium-term scenario at best.
What are the key support and resistance levels for SOL?
Immediate support is $112-$115, with $112.65 as the key level to watch. A deeper floor sits at $97-$100. Resistance is at $118-$122, and a clean break above $122 could open the way toward $130.
Why is open interest rising while the Solana price is falling?
Rising open interest during a decline usually means fresh positions are being added, most likely new shorts, though some traders may be buying the dip. Funding rates are near neutral, so the market is not heavily long-biased. If buyers defend support, the high open interest could fuel a short squeeze toward $118-$120.