Solana is defending a critical support zone between $74 and $77, keeping the door open for a potential breakout toward the $85–$87 resistance area. The recent price action coincides with a fresh bullish signal from the SuperTrend indicator and improving on-chain metrics, though analysts caution that a deeper correction could still materialize.
According to analyst Ali Charts, the three-day SuperTrend indicator shifted to a buy signal after SOL climbed above $78 on June 30. This marks the first bullish reversal since the previous sell signal. On-chain data reinforces the technical improvement: Solana has averaged 8.4 million new addresses each week, with roughly 1.6 million new addresses created over a three-week span. Exchange outflows are also painting a constructive picture—Ali Charts noted that investors withdrew about 1.5 million SOL from exchanges between June 24 and July 3, and a further update showed approximately 100 million SOL leaving exchange reserves between July 3 and July 11. Such movements typically indicate reduced immediate selling pressure as tokens shift into self-custody.
Despite the bullish undertone, a formidable resistance zone sits between $79 and $85. Data from URPD shows that around 105 million SOL changed hands within this range, creating a dense supply barrier. A clean break above $85 would likely clear the path toward the next resistance clusters at $100 and $127. Conversely, failure to hold the $74 support could flip the SuperTrend back to bearish and expose SOL to the next major URPD support near $53.
A broader outlook shared by Crypto Patel suggests that Solana’s long-term chart still permits a deeper washout. A three-week timeframe highlights an accumulation zone between roughly $30 and $52, which could serve as a low-risk entry for long-term buyers if the market corrects further. The recovery roadmap remains intact: reclaiming the $95–$100 area would improve momentum toward $140, and a later push above $240 would signal a robust long-term reversal. However, SOL must first prove it can sustain above the current support and navigate the $85 hurdle.
