Upexi’s SOL stash now exceeds $330 million after a $200 million capital raise, as one analyst calls for a breakout to $500 this cycle.
Smaller cryptocurrencies show disproportionately high open interest compared to market cap, signaling potential risk for traders.
A large number of protocols on the two chains haven't captured any value lately, in what looks like on-chain version of disguised unemployment.
The Solana price has slowly crept up over the last few weeks, moving from a low of $127 back in June to now trading over $200 at the time of this report. This surge has been propelled forward by the emergence of new runners on the blockchain such as the likes of USELESS, moving SOL toward the coveted $200 market. However, questions abound as to how long this rally could be sustained and if a bearish scenario could see it crashing back downward. Solana Price Faces Pressure From Bears Despite bullishness being the order of the day, a crypto analyst has sounded the alarm of bearish pressure mounting for Solana. In the analysis, they explain that the rally that pushed the digital asset over the $190 mark recently was actually a textbook fakeout. Related Reading: XRP Transactions Barrels Over $1 Billion To Monthly Highs, Are Whales Driving The Next Leg? This rally had taken the Solana price above the resistance that had been mounting at $170, clearing a path for the rally to $200. This has allowed for a liquidity sweep at these high levels. But now there is a roadblock for the altcoin that could send it back down. The crypto analyst explains that the Solana price is still trading inside the ascending channel despite the rally. Thus, this means that the breakout failed at the time. Such failure suggests that there is not enough strength propping up the price, leaving it vulnerable to bears. Two likely bearish scenarios were presented by the analyst in response to this. The first was that there would be a direct drop into the maximum pain level (MPL), which lies around $162.30, making it the key downside target. But with the price already breaking above $190, this is unlikely. The second and most likely scenario is the move up to retest highs before a drop. It could also alternatively form a lower high before dropping, leading to a steep decline. Regardless, both roads lead to the same destination, and that is the fact that the price drops toward the MPL level. Related Reading: Dogecoin Price Breaks Above $0.26 In Weekend Rally As Pundit Predicts 2,600% Surge SOL Open Interest Hits Record Levels The surge in the price has triggered a rapid increase in interest in Solana, and this has seen the open interest for the altcoin hit new all-time highs. The open interest is the total sum of short and long positions open for an asset, and according to data from the Coinglass website, the Solana open interest has now crossed $10.96 billion to surpass its previous high of $8.79 billion. Interestingly, though, the Solana price is still much lower compared to where it was the last time open interest hit new highs. This could suggest that there could be some steam left before the SOL price begins to slow down again. Featured image from Adobe Stock, chart from TradingView.com
Solana started a fresh increase above the $185 zone. SOL price is now correcting gains and might find bids near the $195 support zone SOL price started a fresh upward move above the $185 and $192 levels against the US Dollar. The price is now trading above $195 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $199 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $205 resistance zone. Solana Price Gains Momentum Solana price started a decent increase after it cleared the $180 resistance, like Bitcoin and Ethereum. SOL climbed above the $185 level to enter a short-term positive zone. The price even smashed the $200 resistance. A high was formed at $207 and the price is now correcting gains. There was a move below the $205 level and toward the 23.6% Fib retracement level of the upward move from the $178 swing low to the $207 high. Solana is now trading above $195 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $199 on the hourly chart of the SOL/USD pair. On the upside, the price is facing resistance near the $205 level. The next major resistance is near the $208 level. The main resistance could be $215. A successful close above the $215 resistance zone could set the pace for another steady increase. The next key resistance is $232. Any more gains might send the price toward the $245 level. Are Downsides Limited In SOL? If SOL fails to rise above the $208 resistance, it could start another decline. Initial support on the downside is near the $199 zone and the trend line. The first major support is near the $195 level. A break below the $195 level might send the price toward the $192 support zone or the 50% Fib retracement level of the upward move from the $178 swing low to the $207 high. If there is a close below the $192 support, the price could decline toward the $185 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level. Major Support Levels – $199 and $192. Major Resistance Levels – $208 and $215.
Solana (SOL) has crossed the $200 mark for the first time in months, sparking a frenzy of discussion across major social media platforms. Solana Social Dominance Has Spiked To Highest Since Early June In a new post on X, analytics firm Santiment has talked about how the crowd has reacted to the latest rally in Solana’s price. The metric of relevance here is the “Social Dominance,” which tells us about the degree of attention that a given coin is receiving on social media relative to the top 100 cryptocurrencies by market cap. The indicator is based on another, known as the Social Volume. The Social Volume measures the unique number of posts/messages/threads on these platforms that are making mentions of the asset. Related Reading: Ethereum To $10,000? Analyst Says ETH Has To Break This Level The Social Dominance takes the Social Volume of a coin and calculates what percentage of the combined Social Volume of the hundred largest assets in the sector that it makes up for. Below is the chart shared by Santiment that shows the trend in the indicator for Solana over the last few months: As displayed in the above graph, the Solana Social Dominance has just witnessed a sharp increase, indicating that interest in the asset has surged among social media users. The spike in attention toward SOL has come following a notable rally in its price, which has taken it past the $200 level for the first time since early 2025. The asset now makes up for 8.9% of all cryptocurrency-related discussions, the highest since June 6th. Though while some market interest can be positive, an excess of it has generally proven to be a bearish sign in the past. As such, the spike in the Social Dominance of the coin may be something to keep an eye on, as FOMO developing among the crowd could potentially impede the price run. In the same chart, the analytics firm has also attached the data for another Solana indicator: Development Activity. This metric measures, as its name suggests, the total amount of work that the developers of the project are putting in on its public GitHub repositories. Related Reading: Bitcoin Correlation To Altcoins Is Collapsing: A Warning Sign? The indicator gauges development work in terms of ‘events,’ where an event is any action made by the developer on the repository, like the push of a commit or the creation of a fork. From the graph, it’s visible that the Development Activity of Solana has witnessed a rise recently and has climbed back above 63 events per day. This is the highest value for the metric since May 22nd. Thus, it would appear that the developers of the project are ramping up their effort alongside the price surge. SOL Price At the time of writing, Solana is floating around $203, up more than 27% in the last seven days. Featured image from Dall-E, Santiment.net, chart form TradingView.com
As the crypto market gears up for what many expect to be a major bull run in 2025, top analysts are beginning to share their most realistic price predictions for leading digital assets like Bitcoin (BTC), Ethereum (ETH), Chainlink (LINK), Binance Coin (BNB), Aptos (APT), and others. Though their forecasts vary in optimism, there’s a shared consensus that significant gains are likely on the horizon. Bitcoin, Ethereum, LINK, BNB And Aptos Price Forecast As excitement builds around the next potential crypto bull run, well-known crypto analyst and YouTube host Altcoin Daily has released a fresh batch of “realistic” price predictions for major digital assets expected to perform strongly in 2025. Related Reading: The Final Bitcoin Act: Here’s What To Expect As BTC Trends Sideways In the forecast posted on X social media, Bitcoin is expected to reach a peak of $150,000 during the next bull market. Currently trading at $117,629, the flagship cryptocurrency has pulled back from its recent all-time high above $123,000. To reach the projected $150,000 target, BTC would need to surge by roughly 27.52% from its current level. Ethereum, the second-largest cryptocurrency, is also set for significant gains this cycle. Altcoin Daily forecasts that the altcoin is likely to hit $5,000 in 2025. Over the past few weeks, Ethereum has posted strong gains, overcoming key resistance and emerging from a prolonged consolidation phase. Now trading at $3,696, the top altcoin has surged by an impressive 61.45% over the past month. From this level, ETH would need to climb approximately 35.26% to reach a $5,000 peak. Weighing in on other major altcoins, Chainlink, the leading decentralized oracle provider, is expected to rise to $30, representing a potential surge of over 57% from its current price of $19.1. As for Binance Coin, Altcoin Daily anticipates a strong rally toward the $1,000 mark from BNB’s current price of $759. For the final forecast, Altcoin Daily sets a $10 target for Aptos, a relatively newer Layer-1 blockchain. At the time of writing, the token is trading at $5.25, meaning it is expected to surge by approximately 90.5% to reach the expected peak. Realistic Targets For 2025 Altcoin Season Offering a significantly more inclusive forecast, crypto analyst Domba.eth took to X to share realistic price targets for 19 major cryptocurrencies ahead of the anticipated 2025 altcoin season. In line with Altcoin Daily’s projection, Domba.eth forecasts a relatively similar peak range for BTC, ETH, and BNB. Related Reading: Altcoin Season Index Spikes Above 30, But Bitcoin Dominance Remains High, What Next? The analyst’s projection also extends to cryptocurrencies not covered by Altcoin Daily, including Solana, XRP, and Cardano. Notably, Solana is expected to rise between $300 and $500 during the upcoming altcoin season, suggesting a possible surge of 50% to 152% from its current price of $199.1. XRP, which recently saw a sharp rally above $3.5, is forecasted to rise between $3.2 and $4.7, assuming positive sentiment remains strong and legal clarity improves. Meanwhile, Cardano is expected to reach a range of $1.2 to $2.1, representing a potential gain of roughly 38% to 141.4% from its present price of $0.87. Featured image from iStock, chart from Tradingview.com
Solana’s price rally reached a new milestone on Monday. SOL traded at $195.50 per coin, pushing the total valuation to over $105 billion for the first time since January 25. Related Reading: Too Pricey? Expert Says XRP Beats Bitcoin And Ethereum Right Now That jump reflects growing optimism around the token. Short‑term gains have been strong, but questions remain about how deep the recovery really runs. DeFi TVL Rises With Price Based on reports, Solana’s total value locked in DeFi hit $14.18 billion. That’s the highest level in six months, back to where it stood in January when SOL first reached its all‑time high. A big chunk of that gain comes from the token’s own price climbing. When SOL moves up, every coin locked in lending pools and vaults gets worth more on paper. Users haven’t needed to rush in and lock fresh tokens to boost TVL numbers. The overall ecosystem feels larger. Yet true usage growth may be slower than those headline figures suggest. Experts are keeping a close eye on how many new deposits actually show up. After all, token value and real‑world demand don’t always rise at the same pace. DEX Trading Activity Shows Uptick Between July 14 and July 20, Solana’s decentralized exchanges handled over $22 billion in trading volume. That’s up from close to $19 billion the week before. Raydium led with $8.4 billion, followed by Orca at almost $6 billion and Meteora at $5.3 billion. Based on data, traders are coming back. But weekly volumes still sit far below the $98 billion peak set in mid‑January. That gap signals a market that’s warming up but not yet boiling over. Volume gains show renewed interest among active users. It also hints that fresh strategies and new tokens may be finding feet after a slower spell. Staking Dominates Network Security According to on‑chain figures, about 355 million SOL remain staked with validators. That stake is worth roughly $69 billion, or about 65% of all tokens in circulation. Those coins aren’t counted in DeFi TVL or in DEX volumes. Instead, they’re busy securing the network and validating transactions. Related Reading: XRP Over Everything? Expert Tells New Investors To Go All In Meanwhile, SOL is predicted to increase another 3.50% and hit $210 by August 21, 2025. Sentiment is currently bullish while the Fear & Greed Index is at 71 (Greed). In the past 30 days, SOL experienced 19/30 green days and 8.61% price fluctuations, indicating both strength and volatility in today’s market, data from CoinCodex shows. Featured image from Meta, chart from TradingView
The REX-Osprey Solana Staking ETF (SSK) has crossed $100 million in assets under management (AUM), just 12 trading days after its July 2 launch, according to a July 22 statement. Greg King, founder of REX Shares, highlighted the speed of this growth as a testament to rising investor appetite for innovative crypto exposure through regulated […]
The post Solana ETF skyrockets to $100 million AUM in just 12 days appeared first on CryptoSlate.
Solana could be on track for a massive 323% rally this altcoin season, according to a new technical analysis by crypto strategist Quantum Ascend, who projects a potential peak around $830 based on market cap extensions and Elliott Wave structures. In a detailed July 22 breakdown, the analyst argues that most retail traders continue to overlook the impact of inflation and token supply dynamics—factors that significantly affect price projections. Solana To $1,000 Is Not Realistic Thus Cycle “Looking at the market cap chart, it’s up almost 216,000%, while the price chart is only up 18,000%. So what this tells us is, there’s some kind of inflationary pressure on the asset,” Quantum Ascend said. “You have to use the market cap chart in order to measure the price.” Using Elliott Wave Theory, the analyst identified Solana as currently operating within a macro third wave—arguably the strongest phase of a five-wave impulse sequence. According to his count, Solana completed its first and second macro waves during previous market cycles and is now accelerating through the early stages of wave three, a move that could culminate in a parabolic rally. Related Reading: Solana Near Last Major Resistance Amid 10% Surge – Analyst Says ‘Real Bull Run’ Is Close “Right now, what we’re working on is this macro wave three,” he explained. “The bear market will be macro four, and then we’ll have another wave at some point well into the future.” To support this thesis, Quantum Ascend pulled Fibonacci extensions from Solana’s historical price structures. He pointed to confluence between the 2.618 extension of the most recent accumulation range and the 3.618 extension of a broader range, both of which intersect near a $300 billion market cap. However, he views this zone as a mid-cycle checkpoint rather than a terminal target. His conservative scenario puts Solana at a $620 price tag, representing a 217% move from current levels. But his primary projection suggests a 323% rally, translating to an $830 top based on market cap behavior and structural alignment. He cautioned that simply targeting round numbers like $1,000 can mislead traders, especially when inflation-adjusted market cap analysis tells a different story. “If I pull those same extensions here for Solana [on the price chart], because of the inflation, you’d be looking for $1,000, which is a nice round number and something that retail would love to hear,” he said. “But the market cap chart shows it’s topping that same extensions only at $830.” Related Reading: Solana (SOL) Set For Price Run To $2,700 — But This Condition Must Hold The discrepancy arises from Solana’s token inflation. As new tokens enter circulation, they dilute the impact of price movements. This is why, Quantum Ascend insists, market cap projections provide a more accurate view of potential upside. “There’s not enough people paying attention to market cap. You have to do it,” he emphasized. In his final breakdown, the analyst laid out both price zones. “We have $620 as our conservative, $830 as our primary here for Solana,” he concluded. While some viewers may find the upper bound modest compared to speculative retail targets, he stressed the importance of realism over hype. “We’re trying to make sure that we’re not buying into any crazy narratives or anything and we’re not leaving anything on the table and we’re not round tripping our bags.” At press time, SOL traded at $195. Featured image created with DALL.E, chart from TradingView.com
ETH prints a Doji on the daily chart as XRP teases a double top on intraday charts.
Analysts said Solana gained on the announcement of Block Assembly Marketplace and the DeFi Development Corp's acquisition of additional SOL.
Strategy has bought another 6,220 BTC for $739.8 million, bringing its total holdings to 607,770 BTC — worth around $71.8 billion.
DeFi Development Corp. said Monday it raised $19 million through its equity line of credit and purchased 141,383 SOL.
Mercurity's Solana strategy is additive and does not replace plans to invest in bitcoin, chief strategy officer Wilfred Daye told The Block.
Over the past week, the Bitcoin (BTC) market recorded a new all-time high at $123,091 on July 14. However, the premier cryptocurrency has experienced a slight price retracement since reaching this milestone. Interestingly, this fall in Bitcoin market prices has collided with a widespread gain in the altcoin market, with specific large-cap tokens notching up remarkable gains. Related Reading: Bitcoin Rally Not Over Yet? Short-Term Holder MVRV Suggests Further Upside 7-Day SMA Bitcoin Whale Exchange Transfers Near 12,000 BTC – Glassnode In an X post of July 18, prominent blockchain analytics firm Glassnode shares a profound on-chain insight on the Bitcoin market, stating that the volume of whale transfers to exchanges is presently on the rise. Notably, this development comes as Bitcoin experiences a moderate price correction after reaching a new ATH earlier last week, as previously stated. Glassnode explains that the 7-day simple moving average (SMA) of BTC transferred from whale wallets to exchanges is approaching 12,000 BTC, one of the highest weekly volumes recorded in 2025. Interestingly, this surge in transfer mirrors levels last seen in early November 2024, a period that preceded a popular crypto bull run. When large holders move their BTC to centralized exchanges, it typically suggests they are preparing to liquidate some or all of their positions, either to take profits or to rotate capital into other opportunities. However, the latter scenario seems likely, especially considering recent trends in the altcoin market. Amidst Bitcoin’s price correction, several altcoins have recorded significant price gains, prompting ideas that the altseason may have begun. For context, data from CoinMarketCap shows that the premier cryptocurrency experienced a mere 0.27% gain over the past week, while altcoins such as Ethereum, XRP, and Solana registered price surges of 19.98%, 25.98%, and 8.86%, respectively. Historically, this development mirrors a characteristic altseason, when other cryptocurrencies generally outperform Bitcoin, leading to a decline in Bitcoin’s market dominance. Altseasons are triggered when investors begin reallocating profits from BTC into higher-beta assets, seeking larger returns due to the lower market caps of these tokens. However, more data from CoinMarketCap shows the altseason index is at 36/100, indicating that while altcoins are beginning to gain momentum, the market has not yet fully transitioned into a confirmed altseason. An index value below 50 suggests that Bitcoin is still outperforming a majority of altcoins over 90 days. Investors should stay alert for a cross above 75 which would suggest a full-fledged altseason to be declared. Related Reading: XRP Open Interest Just Hit A Fresh ATH Above $10 Billion, Will Price Follow Next? Bitcoin Price Overview At the time of writing, Bitcoin trades at $118,377 following a 0.49% decline in the past day. Featured image from Pexels, chart from Tradingview
Solana (SOL) has recorded a significant rally over the past week, reclaiming the $160 area and attempting to hold its last major resistance. Some analysts suggest that if bullish momentum continues, the altcoin will run to new highs once this level is recovered. Related Reading: 2025 Crypto Thefts Spike: Stolen Funds Hit $2.7 Billion In H1– Report Solana Attempts $180 Reclaim As the crypto market capitalization nears the $4 trillion mark and Bitcoin (BTC) makes new all-time highs (ATHs), Solana, one of the leading altcoins of this cycle, is retesting crucial levels after climbing nearly 10% over the past week. The cryptocurrency has been compressing between two key levels since the Q2 recovery, trading between the $140-$180 mark for over two months. However, last month’s geopolitical tensions saw SOL briefly lose its local range and retest the $120-$130 area. Amid the July rally, Solana has reclaimed its local range, climbing to the upper boundary and attempting to break above key $180 resistance. Analyst Crypto Jelle noted that, just like Ethereum’s (ETH) $4,000 barrier, this area is the “final major level for bears to defend.” This has been a key level during this cycle, serving as a major bounce area during the Q4 2024 and early 2025 rally. Additionally, it became the most crucial resistance after losing this area in late February, with multiple failed attempts to reclaim it over the past months. Reclaiming this level could propel the token to the $200 mark and set the stage for a continuation to higher levels, the analyst affirmed. Meanwhile, market watcher Froggy highlighted that Solana retested this key zone on Friday, “signaling strong bullish intent.” Nonetheless, the altcoin fell below this level after hitting its two-month high of $184, trading within the $177-179 price range for the past several hours. To the analyst, “as long as $168 holds, a move toward $186–$188 remains likely.” SOL Preparing For Price Discovery? According to Daan Crypto Trades, if SOL breaks above and holds the crucial level, the next area of interest would be around the $220 mark, followed by the $260 barrier. The trader explained that SOL reclaimed the Daily 200 Moving Average (MA) and Exponential Moving Average (EMA) earlier this week, which led to the ongoing retest of the $180 area. He also noted that memecoins are “running well” as SOL-based tokens in the sector have seen a 13.3% weekly increase, according to CoinGecko data. “That generally puts some bid behind SOL,” Daan said, adding that, “As long as memes run, I think SOL does too.” Meanwhile, crypto analyst Alex Clay highlighted that the cryptocurrency has been in a bullish megaphone formation for over a year, and “Once Large Caps catch the Real Bull Run,” Solana will lead the market. During this period, SOL has traded between the upper and the lower boundary, with its latest retest of the pattern’s support occurring in April. Since then, the cryptocurrency has bounced toward the mid-zone of the formation, holding the 50-day EMA, 100-day EMA, and 200-day EMA as dynamic support. Related Reading: Crypto Relief: House Advances GENIUS, CLARITY, Anti-CBDC Bills After Narrow Vote If it continues to move between the pattern’s boundaries, Solana could be poised for a breakout toward the megaphone’s ascending resistance, at around the $350 level. To the analyst, “Breakout of ATH and Price Discovery is inevitable,” with the initial targets sitting around $350-$400. As of this writing, SOL trades at $177, a 2% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Pump.fun's newly launched token is trading around $0.004, the price at which it debuted during its initial coin offering on Sunday.
One crypto analyst said the next technical resistance lies near $4.5 trillion, with potential downside risks in macroeconomic conditions.
After weeks of whisper-quiet consolidation, Ethereum has finally found its voice, roaring through a historically thin price zone with conviction. Backed by heavy volume and strong weekly closes, ETH’s breakout isn’t just technical. The silence is over, and the bulls are back in charge. Weekly Charts Tell The Story: ETH Strength vs. SOL Struggle Cazz, in a recent update on X, highlighted a significant development on the Ethereum weekly chart. The ETH/USD pair has broken out of an 8-week tight consolidation range. This breakout came on the back of high volume and strong weekly closes near the highs. Its rapid price movement through a historically thin zone further confirms that this is classic big money behavior. Related Reading: Ethereum Bulls Roar — $3K Beckons After 5% Spike The technical structure suggests Ethereum’s bullish momentum is not only gaining traction but also aligning with broader institutional interest. This kind of breakout pattern often indicates the start of a stronger trend, especially when accompanied by elevated volume and price conviction as seen on the chart. In contrast, the SOL/ETH chart is showing a completely different story. Cazz pointed out that the pair is breaking down below long-term support on the weekly timeframe. This signals relative weakness and may be a sign that market participants are shifting preference away from SOL in the short and medium term. While Solana could still deliver in isolated moves, the overall structure puts Ethereum as the stronger asset. Cazz’s analysis suggests a shift in market leadership, with Ethereum gaining strength through “classic big money behavior” while Solana shows weakness. As ETH asserts itself as the institutional Layer 1, it could be entering a more dominant phase in the near term. ETH Shifts Gears: From Accumulation To Acceleration According to Cazz, after “more than a year of sideways action and base building,” which he notes “can be a sign of institutions building substantial positions,” ETH appears to be transitioning into a new leadership phase. This shift is backed by strong fundamentals (tokenized treasuries, RWAs, DeFi infra) and upcoming regulatory catalysts, all pointing toward Ethereum’s growing dominance. Related Reading: Ethereum Price Signals Strength — Bullish Pop May Be Just Ahead Cazz highlighted that “Ethereum memes are coming back to life on big volume,” signaling a strong return in community sentiment and trader interest. This renewed energy around Ethereum memes is happening as the price breaks through key levels and narratives regain traction in the market. In his observation, Cazz pointed out that some are already up 5-10x from local bottoms, showcasing just how quickly opportunities are unfolding in the Ethereum ecosystem. Such momentum suggests that the quiet accumulation phase may now be giving way to a more aggressive rally led by both fundamentals and capital rotation. Featured image from iStock, chart from Tradingview.com
ETH eyes $3,400 after triangle breakout as major coins look north.
The new Solana-focused liquid staking token follows Liquid Collective's prior launch of LsETH on June 17.
Beyond the airdrop, major ES token allocations include 35% for ecosystem growth, 31% for early backers, and 19% for contributors.
PYUSD is going live on Arbitrum, according to an updated version of PayPal's cryptocurrency terms and conditions page.
BTC is down, but not out as SOL finds new resistance at $168.
Solana started a fresh increase above the $160 zone. SOL price is now correcting gains and might find bids near the $155 support zone SOL price started a fresh upward move above the $155 and $160 levels against the US Dollar. The price is now trading below $162 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $162 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $162 resistance zone. Solana Price Corrects Gains Solana price started a decent increase after it cleared the $160 resistance, like Bitcoin and Ethereum. SOL climbed above the $162 level to enter a short-term positive zone. However, the price is facing a major hurdle at $168 and $169. A high is formed at $168.60 and the price is now correcting gains. There was a move below the 50% Fib retracement level of the upward move from the $158 swing low to the $168 high. Besides, there was a break below a key bullish trend line with support at $162 on the hourly chart of the SOL/USD pair. Solana is now trading below $162 and the 100-hourly simple moving average. It is also trading below the 76.4% Fib retracement level of the upward move from the $158 swing low to the $168 high. The price is now approaching the $158 support. On the upside, the price is facing resistance near the $160 level. The next major resistance is near the $162 level. The main resistance could be $1685. A successful close above the $168 resistance zone could set the pace for another steady increase. The next key resistance is $178. Any more gains might send the price toward the $185 level. More Losses in SOL? If SOL fails to rise above the $162 resistance, it could start another decline. Initial support on the downside is near the $158 zone. The first major support is near the $155 level. A break below the $155 level might send the price toward the $150 zone. If there is a close below the $150 support, the price could decline toward the $145 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $158 and $155. Major Resistance Levels – $162 and $168.
The analysts also see growth in Ethereum and Solana reinforcing their investment case as the cycle broadens beyond bitcoin.
Global crypto investment products added another $3.7 billion to a net inflow streak that has now reached 13 consecutive weeks.
Solana (SOL) has registered a 0.58% loss in the past day, representing a slight price retracement from its strong weekly performance. Notably, the altcoin gained by nearly 10% in the last seven days as general crypto prices surged, pushing its unit price into the $160 price region. Amidst the present market cool-off, Ali Martinez has tipped Solana to embark on a parabolic rally subject to a particular market condition. Related Reading: Why The Solana Price Could Crash To $95 Before Reaching $200 Solana Bulls Eye Breakout As $170 Emerges As Critical Resistance In an X post on July 12, Martinez outlines a bullish technical analysis on the Solana market, stating the altcoin is at a key price juncture. Using the weekly chart, the analyst has been able to identify a mega cup-and-handle pattern, which usually precedes a major price rally. However, the altcoin faces a critical price resistance at the $170 region. For context, the cup-and-handle pattern is a popular bullish chart formation that indicates potential for significant price upswings. As seen in the chart below, it resembles the shape of a teacup, commencing with a bearish market, followed by a price recovery of equal magnitude as seen between the start of 2022 and the start of 2025. During this period, investors saw Solana prices crash from around $250 to a cycle low of $9.88 before experiencing a gradual return to a similar peak, thereby forming the cup pattern. Thereafter, SOL has experienced significant price corrections and rebounds, eventually creating a descending price pattern that represents the handle of this formation. Notably, the cup-and-handle pattern only translates into a price surge following a decisive price breakout above the formation’s neckline. Following recent gains, Solana finds itself within touching distance of this neckline at the $170 price mark. Martinez explains that a successful weekly close above this major resistance will validate the bullish intentions on Solana, inducing a heavy market demand and paving the path for higher price territories. Based on the Fibonacci retracement and extension levels on the chart, the initial price target in the event of this breakout is set at $295, instantly matching the current all-time high. However, the historical magnitude of breakouts from cup-and-handle pattern points to lofty price targets, such as $ $787, $1,314, and a max target of $2,744. However, a rejection at $170 may force Solana to visit lower support levels near $135 or even $100, which has served as a major demand zone in the past. Related Reading: Cardano Price Explodes 30% In Past Week — Analyst Calls $5 Next Market Top Solana Price Overview At the time of writing, Solana is trading at $162.58 with a decline of around 0.58% as earlier stated. Meanwhile, the asset’s daily trading volume is down by 38.77% and valued at $3.72 billion. Featured image from Byte Tree, chart from Tradingview.com
All 125 billion tokens sold at $0.004 each, giving PUMP a $4B fully diluted valuation; post-sale tokens stay initially frozen for up to 72 hours.