Is Solana price dropping under $100 in September?
SOL price has lost support and closed multiple daily candles below the 200-day EMA for the first time since September 2023.
Solana’s (SOL) price closed its second-worst weekly return of 2024, i.e. 19.14% at the end of August. Previously, its largest negative weekly ROI of 25.19% took place a month prior in July.
With SOL witnessing a negative spot net flow of $500 million in August, the derivatives market is currently taking charge of the price action.
Last week, Solana’s open interest (OI) dropped 12% in 24 hours after prices dropped under $150. Since then, prices have dropped another 14%, but OI has risen by 20% in the markets.
SOL price has lost support and closed multiple daily candles below the 200-day EMA for the first time since September 2023.
Solana’s (SOL) price closed its second-worst weekly return of 2024, i.e. 19.14% at the end of August. Previously, its largest negative weekly ROI of 25.19% took place a month prior in July.With SOL witnessing a negative spot net flow of $500 million in August, the derivatives market is currently taking charge of the price action.Last week, Solana’s open interest (OI) dropped 12% in 24 hours after prices dropped under $150. Since then, prices have dropped another 14%, but OI has risen by 20% in the markets. Read more