SOL Rebound Continues, But Bears Still Hold the Structure

Solana (SOL) is trading around $82.6 on Monday, extending its short-term rebound for the fourth day in a row. Despite the price increase, the derivatives market shows mixed signals. Funding rates have risen, meaning more traders are taking long positions and willing to pay extra. However, Open Interest has fallen from $5.07 billion to $4.97 billion, which suggests overall market participation is shrinking. This indicates some bullish interest, but not enough conviction to drive a strong rally.

Institutional involvement remains limited. SOL-focused ETFs experienced a net outflow of $5.24 million last week, marking the second straight week of capital leaving. If this trend persists, it could weigh on spot prices and hinder any further recovery.

On the 4-hour chart, SOL is still within a downward channel, keeping the bigger picture bearish. The current price move seems like a bounce off the 77–78 support area rather than a confirmed reversal. Momentum is improving slightly—the MACD is trending upward—but the overall structure remains unchanged.

Resistance is clear at 84.6. A decisive move above this level might push the price toward 90 or even higher. If the price fails to break this point, it’s likely to fall back toward the 77–75 support zone.

Overall, this feels like a brief rebound inside a larger downtrend. For buyers to take control, a clear breakout is needed; otherwise, sellers still dominate the market.

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