Solana Faces Resistance with Negative Funding Rates
- Solana is consolidating below the $180 resistance level after a 95% rally since April.
- Current trading price is approximately $175.68, with recent gains showing three consecutive weekly increases.
- The 34-week EMA and 50-week SMA have been surpassed, indicating strong bullish momentum.
- Glassnode data shows Solana as the only top 10 cryptocurrency with a negative funding rate at -0.0002%.
Solana’s price consolidation below $180 and its negative funding rate suggest potential short-side pressure, despite recent bullish trends and significant gains from April lows.
Source (2.6)https://www.newsbtc.com/news/solana/solana-funding-rates-turn-negative-early-sign-of-selling-pressure/?rand=52377
