Solana gains ground as large traders increase futures positions while Bitcoin maintains stability near recent peaks. SOL rose roughly 6% to trade around $142 on Dec. 10, drawing fresh attention from institutional and retail participants.
The rally comes as derivatives activity surges across centralized and decentralized platforms.
What Happened: Price Rally
Solana posted a 6% gain on Dec. 10, reaching $142 amid heightened trading volume across spot and futures markets. CoinGecko recorded approximately $6.3 billion in spot volume, while CoinGlass reported Solana futures open interest near $7.5 billion.
Centralized exchanges processed $1.6 billion in spot trades during the same period. Futures turnover hit roughly $17 billion in 24 hours, indicating active positioning without extreme leverage buildup.
DeFiLlama data shows Solana perpetual decentralized exchanges handled about $1.13 billion in volume over the past day.
On-chain open interest for Solana perpetuals remains around $463 million, suggesting measured participation from both centralized and decentralized traders.
Daily spot volume on Solana decentralized exchanges reached approximately $3.5 billion. The network recorded more than 2.3 million active addresses and processed close to 65 million transactions in the past 24 hours.
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Why It Matters: Technical Breakout
Solana is testing a descending trendline that has capped every rally since early October. The price now holds above the mid-range support zone between $145 and $150 after forming a base near $135 in recent weeks.
Chart analysis reveals higher lows pressing against the flattening trendline, signaling diminished selling pressure.
The first resistance barrier sits near $165, with a secondary zone between $185 and $190 marking areas where sellers previously dominated.
A sustained close above the downtrend would represent the first clear shift in market structure since the November pullback.
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