Solana Funding Rates Turn Negative Amidst Market Consolidation

Solana is consolidating near $180 after a strong rally, facing resistance that has stalled its upward progress. Key points include:

Solana's price remains range-bound as buyers struggle to push above resistance.
Glassnode data indicates Solana has the only negative funding rate among top 10 cryptocurrencies, suggesting increased bearish sentiment in the derivatives market.
The asset gained over 95% since April but faces potential short-term correction risks from broader market conditions.
A successful breakout above the $180 level could lead to a move towards $200, while failure may result in consolidation or pullback.
Current trading shows stability with three consecutive weekly gains and reclaiming of the 50-week SMA at $169.48.

As Solana approaches critical resistance, investor focus will be on whether it can convert this barrier into support, potentially setting the tone for future price movements.