Solana Bulls Dominate as Long/Short Ratio Exceeds 2.8 Across all Timeframes

By Edited By Ammar Raza,
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There is a high level of bullish conviction among the Solana traders as long positions crossed 74% on all timeframes. The network’s rate of growth causes optimism in SOL.

What to Know

  • During the past 24 hours, 76.29% of traders held long positions on SOL.
  • Still, it’s important to watch how price reacts when such a large majority leans in one direction.
solana
  • The Long/short ratio of Solana has exceeded 2.8 in all major timeframes indicating a bullish market.
  • The long-term interest in SOL is being stimulated by the influx of developers and users.
  • 11.2 million transactions mark 20-week high, boosting SOL’s bullish momentum.

In an updated long/short data, there is a strong bias of Solana (SOL) traders to be on the long side. The information shows a predominantly bullish sentiment, whether on the five-minute timeframe or even one day.

Long Positions in SOL Jumped to 76% in 24 hours

During the past 24 hours, 76.29% of traders held long positions on SOL. Only 23.71% bet on a decrease in price. This represented a high long/short ratio of 3.22, which means that long position is the most preferred position, with the shorts three times lesser.

Solana

Source: Coinalyze

Also Read | Solana Holds Key Support at $126–$131, But Bearish Trend Still Looms

Even the 5-minute chart has a long/short ratio set at 2.96, and almost 75% of traders are long. The charts with 30-minute and 1-hour trends exhibit close numbers with the former chart slightly ahead. However, this stability over the periods indicates that traders are certain of a bullish trend in the price of SOL.

A long short ratio heading above 1.0 is usually an indication that more traders are anticipating a price increase. The current scenario displays high ratios of more than 2.8 in all timeframes, signifying strong belief in a price upside. Traders have positioned themselves on the possibility of an increase in the price of SOL soon.

Solana’s Bullish Momentum Can Be Attributed to Ecosystem Expansion

This trend of high long bias in all charts may be due to the general market confidence in Solana ecosystem. Yesterday, the network conducted 11.2 million transactions.

This number of transactions represents a 20-week high. This could also be a factor driving this strong bullish behavior.

Still, it’s important to watch how price reacts when such a large majority leans in one direction. If the trend reverses, the unwinding of these longs could be fast and rough. 

Also Read | Solana ETFs Could Launch This Summer with Invesco and Galaxy in the Lead

Paul Adedoyin

Paul Adedoyin

Paul Adedoyin is a Financial Correspondent at Tronweekly with over four years of experience covering the cryptocurrency and digital asset sector. His work focuses on Bitcoin, altcoins, and DeFi, alongside crypto regulation and policy, blockchain technology, Web3, Layer 2 ecosystems, and AI-blockchain developments. He verifies reporting through primary sources such as official filings, regulatory statements, court records, and on-chain data to ensure accurate, fact-based coverage. His work has been featured on platforms like U.Today and CryptoMode.

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