Solana Price Prediction: SOL pump continues, with open contracts soaring past 13 billion dollars, creating a historical new high.

After accumulating an 8% pump last week, Solana (SOL) continued its upward trend on August 25, reaching $207. The latest data shows that SOL's open interest (OI) surged to $13.08 billion, setting a new historical high, indicating strong bullish sentiment in the market. Coupled with several favourable information in the ecosystem and a spike in on-chain volume, the market generally expects SOL to potentially hit historical highs.

SOL price continues bullish momentum

As of August 25, when this article was written, SOL was priced above 207 USD, continuing last week's strong rebound. On August 22, SOL found support near the 50-day EMA (179.45 USD), with a cumulative increase of nearly 16% over the weekend. If the uptrend continues, the next significant resistance level is at 230 USD, and a breakout could challenge the historical high of 295.83 USD.

Open interest contracts hit a new historical high, on-chain volume soars

(Source: CoinGlass)

Open Interest (OI): CoinGlass data shows that the futures open interest for Solana has reached 13.08 billion USD, setting a new historical high, indicating that new funds and buying pressure continue to flow in.

(Source: Artemis)

On-chain volume: Artemis Terminal data shows that Solana on-chain DEX volume surged from $2.6 billion on August 17 to $7.1 billion on Sunday, with liquidity and trading activity significantly increasing.

Favourable Information and Market Sentiment Support

Recent favourable information has further driven the bullish sentiment for SOL:

Bullish IPO: Institutional-grade digital asset platform Bullish completed a $1.15 billion stablecoin IPO in the United States, with most of the stablecoins minted on Solana, directly boosting on-chain demand.

International Exposure: Solana will debut at the 2025 All-In Summit in September, and the UAE super team will also launch a physical co-working space "Solana City" in Dubai.

Stablecoin Application: The first official stablecoin in Wyoming, USA, will be launched on Solana, marking its continuous expansion in the global application landscape.

Technical Analysis and Price Prediction

(Source: Trading View)

RSI Indicator: The daily RSI is 62, above the neutral level of 50, indicating strong bullish momentum.

MACD Indicator: A bullish crossover occurred last Friday, further supporting the upward trend.

Upward Target: If SOL stabilizes above 230 USD, it is expected to challenge the historical high of 295.83 USD.

Downside risk: If a pullback occurs, the first support level is at the 50-day EMA (179.45 USD).

Conclusion

The current price trend of Solana, record high open interest, soaring on-chain trading volume, and multiple ecological favourable information provide a strong basis for its pump. If the bullish momentum continues, SOL is expected to challenge historical highs in the coming weeks. Investors should closely monitor the performance of the 230 USD resistance level and the 179 USD support level. For more real-time market quotes and in-depth analysis, please follow the official Gate platform.