- SOL bounced to ~$136 as traders spotted the first signals of a potential reversal.
- Futures open interest hit $7B, DEX and perp volume remain strong, and TVL stays near $8.8B.
- A break above $145–$155 could trigger a stronger upside move if buyers keep defending support.
Solana pushed higher on Tuesday, rising toward a key resistance zone after traders noticed the first glimmers of a possible reversal. The token traded near $136 across major exchanges, recovering from a support level that’s been tested more than a few times lately. The broader market spent most of November under pressure — and SOL followed right along — but positioning is slowly starting to firm up again, almost like traders are quietly creeping back in.
Derivatives and DEX volume pick up, hinting at renewed confidence
Coinglass data shows futures open interest hovering around $7.0 billion, with 24-hour futures volume near $19 billion. Spot markets also crossed the $1 billion mark, a solid improvement after days of slow, choppy action. Those numbers tell a simple story: traders are returning, not rushing, but showing enough activity to break the recent stagnation. As SOL reclaimed the mid-$130 range, eyes shifted toward the next resistance stretch that sits just above.
DeFiLlama data also shows Solana’s total value locked sitting around $8.878 billion — meaning liquidity on major protocols hasn’t dried up, even after the recent slump. And with 24-hour DEX volume around $1.795 billion and perpetuals hitting about $1.869 billion, Solana’s on-chain and derivatives users aren’t stepping away. If anything, the steady turnover shows traders are still leaning in.
Solana approaches a critical range — can it challenge $155?
Analyst Daan Crypto pointed out that SOL has been in a “big slump,” but the first signs of life — including renewed interest in Solana memes — pulled his attention back. His chart highlights a key support region that has held firm multiple times in 2024 and early 2025. Right now, SOL is sitting inside a broad demand zone between $118 and $130, an area that triggered several strong rebounds in past cycles.
A sharp wick into this zone earlier in the week was immediately defended by buyers, suggesting they’re not willing to let price slip deeper without a fight. SOL was rejected from the same level during the last pullback, but if it breaks above it cleanly this time, momentum could shift fast. Above $145, the next major target sits near $155 — a level that aligns with a high-volume cluster and the dotted resistance line on Daan’s chart. As he put it, “the ~$155 area would be next” if bulls manage to push through.
Early support forming, but trend remains fragile
Solana’s broader trend is still weak, no getting around that, but small signs of support are starting to appear. These reactions don’t confirm a full reversal — not yet — but they do open the door for a potential rebound if activity keeps building. With derivatives heating up, DEX volume remaining strong, and SOL hovering just above a demand block that’s acted like a springboard before, traders now wait to see whether momentum can actually stick. Here is where the market decides if this is just noise… or the beginning of a larger move.
