Will Solana Hold $70? Toss Bank MOU, Whales Bet $24M on SOL
Solana is trading at $71.03 on June 23, 2026. The daily candle opened at $71.94, reached a high of $72.05, and slipped 1.31% by close.
Volume on KuCoin came in at 21.95K. The pair on the chart is SOL/USDT on the daily timeframe.
Price action has been grinding sideways to slightly higher since the $60 low in early June. But the bears are not giving up easily.
What Does the Solana Daily Chart Show Right Now?
The LuxAlgo Smart Money Concepts overlay on the daily chart has printed several important signals since January 2026.
Back in February, the price broke a CHoCH (Change of Character) near $130. That confirmed the shift from an uptrend to a downtrend. SOL dropped from the $147 area all the way down toward $63 by early June.
A BOS (Break of Structure) label also appears around the $76 level, confirming the bearish breakdown from the prior range. That $76.65 level is now the first wall buyers have to clear.
The chart also shows an EQH (Equal Highs) pattern that formed during March and April near the $85 zone.
Equal highs often act as a magnet for price before a sharp reversal. SOL tested that area in May 2026, failed, and fell hard.
Currently, SOL is forming a rising wedge pattern between roughly $60 and $72. Rising wedges in a downtrend usually break to the downside. The lower trendline acts as the last support before $60 gets retested.
Key levels to watch:
Immediate resistance: $76.65 (blue horizontal line)
Supply zone: $85 to $88 (previous CHoCH area)
Major resistance: $97.69 (prior BOS level from early 2026)
Key support: $60 (wedge base and June low)
Next support if $60 fails: $55
What Are SOLÂ Derivatives Saying About the Next Move?
The derivatives panel shows a complex picture. Here are the numbers:
24h Volume: $8.69B (+5.48%)
Open Interest: $5.16B (-2.39%)
Options Volume: $15.84M (+25.43%)
Options Open Interest: $99.17M (+3.43%)
Volume is rising, but open interest is falling. That usually means traders are closing out positions, not piling into new bets. Options volume jumping over 25% in a day shows hedging activity is picking up.
The overall Long/Short Ratio (24h) is 0.9486, meaning more accounts are short than long right now.
However, bigger traders tell a different story. Binance Long/Short Ratio for all accounts sits at 2.8388. For top trader accounts, it is 3.0323, and top trader positions show 1.4936.
OKX accounts show 2.28. The smart money is leaning long even while retail leans short.
How Much Money Got Liquidated on SOLÂ in the Last 24 Hours?
The liquidation data is where the real story is. Longs have been getting destroyed at every bounce attempt.
1h Rekt: $1.22M total | Longs $1.17M | Shorts $53.97K
4h Rekt: $1.72M total | Longs $1.66M | Shorts $55.36K
12h Rekt: $7.80M total | Longs $7.57M | Shorts $230.85K
24h Rekt: $10.98M total | Longs $9.80M | Shorts $1.17M
Over $9.8 million in long positions were wiped out in the last 24 hours alone. Short liquidations barely crossed $1.17M. The market is punishing early buyers hard.
What Is the Latest Solana News Driving Sentiment?
On June 19, 2026, South Korea's third-largest internet-only bank, Toss Bank, signed an MOU with the Solana Foundation in Seoul.
The deal aims to test global remittance and settlement infrastructure on the Solana network and explore stablecoin use in overseas payments.
It is described as the first one-to-one strategic partnership between a South Korean internet bank and the Solana Foundation.
MoneyGram has become a validator on Solana, making it the third blockchain where the payments giant runs a validator node alongside Tempo and Midnight Network.
Arcium launched its $ARX token live on Solana, adding to the network's growing DeFi ecosystem.
Baillie Gifford introduced the BAGEY fund, an actively managed bond fund issued natively on-chain on Solana.
The fund uses the blockchain as the legal source of truth, with ownership recorded on-chain and subscriptions settled in stablecoins within a UK-regulated structure.
As per data, A whale opened a $24.34M combined long covering 225,004 SOL at 20x leverage and 4,723 ETH at 25x leverage. That is a big bet that the bottom is close.
The Solana Ecosystem Cup is also underway this week, with the Solana Ecosystem Call set for Thursday.
What Could Happen to Solana Price This Week?
Bullish case: SOL holds above $70, reclaims $76.65 on a daily close, and targets the $85 to $88 supply zone next. Above that, $97.69 becomes the target. That level has not been reclaimed since early 2026.
Bearish case: The rising wedge breaks to the downside. SOL loses $68 to $70 support, falls back to $60, and risks pushing into the $55 area if the June low gives way.
The whale long and top trader positioning lean slightly bullish. But the heavy long liquidations and falling open interest suggest caution. The market has not confirmed a reversal yet.
A clean daily candle close above $76.65 is the first thing bulls need to show.
Disclaimer: This article is for informational and educational purposes only and does not constitute financial or investment advice. Always conduct your own research and consult a financial advisor before making any investment decisions.
