Tonight 3 things:
SOL is now $93.41, up +2.21% over 24 hours and +24.72% on the weekly chart. On August 14, it was still at $76, and within seven days it climbed by $23.
On-chain: As of August 21, SOL futures open interest is $5.71B—an increase of $512M in just two days (+9.86%). This round wasn’t new money rushing in; it was shorts getting forced out. CoinGlass liquidation heatmaps show that between $80–$92, there’s a dense wall of short liquidity—being swept one by one. $80–81 is the 200-day moving average, the real support.
$100 is the near-term target. Altcoin Sherpa says $95 then $120, assuming BTC can’t break down. Today BTC is chopping in the highs without breaking the previous high, so SOL can still move along.
Additional: On-chain news says that last month SOL carried out its first targeted slot time shortening, and institutional products are also drawing in funds—this rally isn’t purely driven by short liquidations. By the 14th, RSI was already 75 and overbought. Pushing through $100 in one go won’t be easy—it needs BTC to cooperate.
SOL is now $93.41, up +2.21% over 24 hours and +24.72% on the weekly chart. On August 14, it was still at $76, and within seven days it climbed by $23.
On-chain: As of August 21, SOL futures open interest is $5.71B—an increase of $512M in just two days (+9.86%). This round wasn’t new money rushing in; it was shorts getting forced out. CoinGlass liquidation heatmaps show that between $80–$92, there’s a dense wall of short liquidity—being swept one by one. $80–81 is the 200-day moving average, the real support.
$100 is the near-term target. Altcoin Sherpa says $95 then $120, assuming BTC can’t break down. Today BTC is chopping in the highs without breaking the previous high, so SOL can still move along.
Additional: On-chain news says that last month SOL carried out its first targeted slot time shortening, and institutional products are also drawing in funds—this rally isn’t purely driven by short liquidations. By the 14th, RSI was already 75 and overbought. Pushing through $100 in one go won’t be easy—it needs BTC to cooperate.
