Solana Price Analysis: SOL Open Interest Hits $2.5B as Traders React to 1-Year Network Uptime Record

Solana price rebounded 5% over the weekend after a volatile start to February, blighted by macroeconomic risks and recurrent network congestion. Rising market volumes and open interest inflows suggest the SOL rebound phase could advance further in the week ahead.

Solana Set to Retake $200 Territory Amid 1-Year Network Uptime Milestone

Solana (SOL) surged as high as $198 on Saturday, Feb 8 with a 5% recovery putting SOL traders on course to close two consecutive days in profit for the first time this month.

The sluggish start to February 2025 was driven by a combination of macroeconomic uncertainties and network congestion.

The ongoing U.S.-China trade war significantly impacted the global crypto market, resulting in over $2 billion in liquidations within a single day.

However, amid the markets turbulence, Solana marked a critical milestone, completing an entire calendar year without a single block production failure.

This marks a notable improvement in network stability, reinforcing its long-term viability as a blockchain ecosystem.

On Feb. 6, Helius Labs CEO Mert Mumtaz acknowledged this achievement, emphasizing that Solana had maintained uninterrupted network uptime for a full year.

He further noted that the network had avoided performance-related failures for nearly two years, signaling increased scalability and reliability.

Since its launch in 2020, Solana has faced multiple outages, with the most significant occurring in early 2022. Over the following two years, intermittent downtimes raised concerns about its ability to sustain large-scale adoption.

However, the recent streak of uninterrupted performance suggests that Solana has significantly strengthened its network infrastructure, potentially attracting further institutional investment and developer participation.

Solana Open Interest Rose $600 Million Amid Network Uptime Milestone

Solana’s 5% price upswing since Feb 8 indicates that short-term traders have reacted positively to the 1-year network uptime milestone. However, beyond price action, market data shows that strategic traders are placing bullish bets on SOL’s continued rebound.

Supporting this outlook, data from Coinglass reveals a substantial increase in open interest, which tracks the total capital invested in active SOL futures contracts.

Open interest is a key indicator of market sentiment, reflecting trader engagement and positioning around major events.

The chart above illustrates that SOL open interest stood at $2.46 billion as of Feb 5. As of Feb 8, that figure has climbed to $2.53 billion, signifying an additional $600 million in capital inflows within three days.

The timing of this surge suggests that traders have responded positively to Solana’s network performance milestone, reinforcing bullish sentiment in the market.

The concurrent rise in SOL price and open interest typically indicates that traders are increasing leveraged positions in anticipation of further upside.

Historically, such patterns have preceded short-term rallies, suggesting that SOL could attempt to reclaim the $200 psychological threshold in the coming days.

Forecast: What next for Solana Price in the Week Ahead?

With strong open interest inflows and improving network reliability, Solana appears well-positioned for further gains. However, broader macroeconomic headwinds, such as persistent inflationary pressures and ongoing geopolitical tensions, could temper the bullish momentum.

Currently, Solana price forecast charts presents a mixed outlook, with conflicting signals from key technical indicators. After a sharp decline from late January highs, SOL has rebounded 5% in the past 24 hours, closing at $197.45. The price is currently hovering near the 200-day SMA (green line), which has acted as a strong support level at approximately $182.70.

A sustained hold above this level could indicate a potential bottoming-out process, strengthening the case for further recovery. Additionally, the RSI at 41.47 suggests that SOL is approaching oversold conditions, hinting at a possible upward correction if buying pressure increases.

On the bearish side, SOL remains below the 50-day (blue) and 100-day (red) SMAs, which are now acting as resistance levels at $215.15 and $211.05, respectively. Until SOL reclaims these key levels, upside potential remains limited. Furthermore, recent price action has been characterized by lower highs and lower lows, suggesting a prevailing downtrend. If SOL fails to break above $200 convincingly, another retest of support at $182 or lower could be on the horizon.

The next few days will be critical in determining SOL’s short-term direction. A strong move above $200 could pave the way for a retest of $215, while rejection at current levels could trigger renewed selling pressure. Traders should watch for volume spikes and RSI movement above 50 to confirm bullish momentum.

For now, Solana’s price trajectory will likely be influenced by broader market sentiment, network adoption trends, and the sustainability of its recent open interest surge.

The post Solana Price Analysis: SOL Open Interest Hits $2.5B as Traders React to 1-Year Network Uptime Record appeared first on CoinGape.