Solana Price Flips Bullish: Here's the Level That Decides Next Move
What is the Solana price today?
Solana (SOL) is trading near $78.06, down about 1.33% over the last 24 hours, according to Coinglass data. Market cap sits around $45.48 billion, with 582.15 million SOL in circulating supply.
Futures volume over the past day reached $5.28 billion, though open interest slipped 2.52% to $5.11 billion.
Options activity, on the other hand, jumped nearly 98% to $15.95 million, hinting that traders are positioning for a bigger move.
Why is Solana price showing a buy signal?
As per Ali, a new buy signal has emerged for the Solana price, based on the SuperTrend indicator. The tool flipped bullish after SOL broke above $78 on June 30.
That shift puts the broader trend back in buyers' hands. But charts only tell part of the story here.
On-chain data backs up the bullish tilt too. Between June 24 and July 3, roughly 1.5 million Solana left exchanges. That kind of withdrawal often points to holders moving coins into self-custody instead of preparing to sell.
Network growth adds another layer. About 1.6 million new addresses joined in just three weeks, a sign that fresh users keep arriving even during choppy price action.
What is the next resistance level for SOL?
The Solana price still has one big wall to clear. Unrealized Price Distribution (URPD) data shows a thick supply zone between $79 and $85, where around 105 million SOL previously changed hands.
That range could act as a ceiling. A clean break above $85 would open the door toward the next supply clusters at $100 and $127, based on current URPD readings.
Analyst Javon Marks pointed to a similar idea on X, noting that $SOL has crossed back above a support level tied to past rallies, including one that delivered a move of more than 260%.
Marks suggested a push toward $233.8 is possible if this support holds, with $456 coming into view on a stronger breakout.
What happens if Solana loses support?
The downside case matters just as much. If the altcoin price falls back below $74, the SuperTrend signal could flip bearish again.
That would undo the current setup and put the next support zone at $53 back in focus, according to URPD data.
How much SOL was liquidated in the last 24 hours?
Short positions have taken the bulk of recent liquidation pain. Over the past 24 hours, $4.53 million in SOL positions were liquidated, with shorts accounting for $567.98K versus $3.97 million in longs during that stretch based on the rekt data.
Fund flows also lean positive. SoSoValue reported a daily net inflow of $150.52K into Solana-linked products as of July 10.
Metric | Value |
SOL Price | $78.06 |
24h Change | -1.33% |
Market Cap | $45.48B |
Open Interest | $5.11B |
Key Resistance | $79-$85, then $100, $127 |
Key Support | $74, then $53 |
Bull Target (Javon Marks) | $233.8, possible $456 |
Is Solana price bullish or bearish right now?
Taken together, the setup looks constructive but not without risk. A bullish SuperTrend flip, falling exchange balances, and rising address counts all point the same direction.
Still, the $79-$85 zone stands as a real test. How $SOL behaves there over the coming sessions could decide whether this turns into a bigger run or another failed attempt at reclaiming higher ground.
Disclaimer
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and prices can change rapidly. Always do your own research and consult a licensed financial advisor before making any investment decisions.
