Solana’s futures market is on the rise, as open interest climbed to more than $7 billion by May 30, one of its highest values in the last few months. This rise indicates that many more traders are joining in and setting aside funds for trading, which points to investors showing renewed determination to trade and make significant decisions.
A look at Coinglass data confirms that as open interest rises, the price of SOL has moved strongly up to around $166.76. Market analysts usually consider the matching movement between price and open interest as confirmation of a healthier uptrend due to new market entrants.
SOL Futures Open Interest (Source: CoinGlass)
Besides, the chart clearly shows that SOL’s optimism has grown steadily since early Q2 2025, indicating that prices are being driven by long-term confidence rather than fast speculation.
SOL Price Outlook Turns Bullish: Technicals Support $300 Target
Amid the uptick in market metrics, prominent crypto analyst ByzGeneral added fuel to the fire by suggesting that Solana “kinda feels like it’s on its way back to $300.” This bullish projection is supported by a strong rebound from the recent downtrend, as shown on the daily chart for SOL/USDT.
Technically, the cryptocurrency has moved above a primary downward line, turning its recent decline into a step forward. It’s now holding firm above the $150 support level—a critical zone highlighted by a high-volume node in the $140–$160 range. Such trends prove the market is strong and open the door to more improvements in Solana price prediction.
SOL Price Chart (Source: X Post)
Market participation is also heating up. As a result, renewed confidence among investors can be seen as the token’s aggregated open interest climbed past its previous high to the 20.356 million mark. Similarly, most major platforms such as Binance, Bybit, OKX, and Hyperliquid have neutral to positive funding rates. That means the rally is far from becoming overheated.
The volume remains steady, with surges showing up during rising price moves, indicating that there are many eager buyers in the market. Such coincidences suggest that the market is strengthening and support an optimistic prediction.
Even so, a note of concern remains:
While things are looking positive, a few warning signs are still being raised. Trader Carl Moon has found what appears to be a double top on the 4-hour chart. If that bearish pattern plays out, the token could dip back to the $157–$152 range in the short term.
SOL Price Chart (Source: X Post)
Yet, all eyes are now on $180. A clean break above it could open the door to a full-blown rally toward $300. But if the price gets rejected, expect a healthy pullback to retest support before any major move higher.
Also Read: XRP Set to Soar? Key Bullish Signals You Need to Know
