Solana (SOL) price reclaimed the $160 level on Monday, June 9, up 6% over the weekend; SOL’s open interest trends suggest a major breakout phase ahead.
Solana price Rebounds 6% at the Weekend
The crypto market suffered intense downward volatility on Friday June 7 as investors reacted to the latest US Non-Farm Payrolls (NFP) jobs data.
Solana emerged as one of the worst-hit assets in the top 10 crypto rankings, having struggled to attract fresh demand since the last week of May 2024 as the Ethereum ETF approval saw investors overlook rival Proof-of-Stake networks.
In the aftermath of the NFP data, SOL price quickly succumbed to a 12.6% correction on June 7, as it tumbled to a 20-day low of $153, according to data obtained from TradingView.
However, Solana price experience a sizeable 6% rebound to reclaim the $160 level in the early hours of June 10,…
