Solana: CPO Vibhu Breaks Down Phoenix Trade Perps

Solana CPO @vibhu joined FOMO HOUR to detail PhoenixTrade mechanics, the $10K trading competition and whether the platform can dethrone HyperLiquid in perpetuals volume.

Price action on the 4h chart shows SOL at $84.87 inside the Bollinger Bands with upper resistance at $87.58 and lower support at $83.73. The EMA50 at $88.06 and EMA200 at $87.42 continue to cap upside while MACD registers a bullish golden cross at -1.32 and RSI sits neutral at 37.9, suggesting any push toward the upper band will likely stall before a measured retracement to the 50-EMA confluence zone.