Is SOL Price Overbought or Breaking Out? Experts’ Analysis and Insights

Solana (SOL) price rallied 3 percent in the past 24 hours to trade at about $164 on Friday, July 11, during the mid-North American session. The large-cap altcoin, with a fully diluted valuation of about $99 billion, recorded a 62 percent surge in its daily average traded volume to hover around $7.9 billion at the time of this writing.

As a result of the heightened volatility, more than $23 million was liquidated from Solana’s leveraged market, with short traders involving $16.7 million. Meanwhile, Solana’s Open Interest (OI) has surged in tandem…