From Cointelegraph
May 28, 2025 7:20:00 pm:

Historical patterns and Fibonacci Retracement suggest SOL could rally to $300. $7.5B in futures open interest and negative funding rates hint at a short squeeze. SOL tested $180 resistance but struggles to establish a sustained bullish position. RSI at 52.60 indicates growing buying pressure, setting up for a potential breakout.

SOL broke above key EMAs in late 2023, surging 515% by March 2024. Current technical setup aligns for a retest of $300 level by late 2025. Fibonacci extensions show potential upside of 70%, with a target of $300. Bullish momentum could push SOL to $418 in price discovery.

SOL futures market activity remains strong, with $7.5B in open interest. Negative funding rates suggest bearish sentiment but also potential for a short squeeze. Market conditions indicate SOL may be stabilizing for an upside move towards $300. Caution advised as potential double top pattern could lead to short-term correction.

Prominent trader flags potential double top pattern on 4-hour chart, warning of a drop to $157-$152. $180 remains a critical level for SOL, with a move above confirming bullish continuation. Rejection could lead to correction to $150-$160 range. Readers advised to conduct own research before making investment decisions.

Read more at Cointelegraph: Solana’s negative funding rate hints a volatile price action