- $SOL is testing the $177–$197 RBS zone while aligning with its ascending weekly trendline, marking a crucial price pivot.
- CME open interest for $SOL futures reached $2.16B, reflecting growing institutional participation and strong market engagement this week.
- $SOL ETP inflows surpassed $500M, while CME launched options for $SOL and $XRP, increasing altcoin capital and trading volume.
$SOL is testing a key support area this week, aligning with its weekly ascending trendline. Price action remains closely watched by traders. Candles are pressing against the RBS zone between $177 and $197, which has previously acted as a springboard for rallies.
Key Weekly Support and Trendline Alignment
$SOL currently sits at the major RBS (Resistance-Becomes-Support) zone of $177–$197. This area has historically marked transitions between rallies and mid-cycle retracements. Buyers and sellers have reacted strongly at this level in past weeks.
Candles are pressing hard against this support after a strong rejection near $210. Technical indicators are showing cautious signals, with RSI at mid-range and MACD histogram flattening. The potential for a crossover increases if buying momentum fades.
Holding this support could see $SOL recover toward $220 and $250. However, a decisive weekly close below $177 could trigger a deeper correction toward $119–$128. Traders are monitoring these levels closely for signs of institutional activity.
Institutional Activity and Market Positions
CME open interest in $SOL futures reached a record $2.16 billion, signaling institutional engagement. This level surpasses previous records and reflects growing market interest. Retail investors appear more cautious amid the rising positions.
Tom Tucker highlighted that institutions are doubling down on $SOL, while Exchange Traded Products (ETPs) crossed $500 million in inflows. Such activity indicates a strong presence of long-term buyers. These developments are being closely watched by market participants.
The Moon Show also confirmed that CME officially launched options trading for $SOL and $XRP. Big capital is entering altcoins, potentially increasing volatility and trading volume. This institutional involvement may support upcoming price movements.
Technical Indicators and Potential Price Paths
The current RBS zone is critical for $SOL’s weekly price stability. The more this support is tested, the more fragile it becomes. Traders are monitoring how long the zone can hold under repeated pressure.
RSI mid-range readings suggest bullish momentum is fading, while MACD histogram flattening may signal a potential crossover. These indicators are used by professional traders to anticipate corrections or rebounds.
If $SOL rebounds from the RBS zone, renewed momentum toward $220 and $250 is likely. However, a breakdown below $177 could expose the next strong support zone at $119–$128. Market participants are positioning themselves accordingly.
