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Solana Price Forecast: SOL tests $140 support zone amid rising selling pressure

Solana (SOL) edges higher by 2% at press time on Friday as it avoids a drop to the $140 support zone. However, the Solana price trend is approaching its second consecutive bearish week close, following a near 6% drop on Thursday. With the bearish trend, derivatives market sentiment aligns with the technical outlook, anticipating a steeper correction ahead. 

Bullish activity declines in Solana derivatives 
According to Coinglass, the Solana Open Interest (OI) has dipped by 4.61% in the last 24 hours to $6.46 billion. A perpetual contract’s OI relates to the number of open positions in either futures or options, and its decline translates to a decrease in traders' interest in participating in such agreements.

Solana Price Forecast: SOL tests $140 support zone amid rising selling pressure

Solana (SOL) edges higher by 2% at press time on Friday as it avoids a drop to the $140 support zone. However, the Solana price trend is approaching its second consecutive bearish week close, following a near 6% drop on Thursday. With the bearish trend, derivatives market sentiment aligns with the technical outlook, anticipating a steeper correction ahead. 

Bullish activity declines in Solana derivatives 
According to Coinglass, the Solana Open Interest (OI) has dipped by 4.61% in the last 24 hours to $6.46 billion. A perpetual contract’s OI relates to the number of open positions in either futures or options, and its decline translates to a decrease in traders' interest in participating in such agreements. 

https://www.fxstreet.com/cryptocurrencies/news/solana-price-forecast-sol-tests-140-support-zone-amid-rising-selling-pressure-202506060853