Overview
- SOL climbed more than 20% from early-June lows around $60 to trade in the $71–$75 area after three consecutive green sessions, a move that accelerated on June 16 when price reclaimed key resistance levels.
- Chart traders point to a weekly MACD bullish divergence and short-term breakouts as signs of technical strength while analysts say reclaiming $67 and then the $75 former range floor would be needed to confirm a larger reversal.
- Derivatives show continued exposure with open interest near $4.72 billion while reported trading volume fell about 25.8% and funding rates are slightly negative, which signals cautious positioning among leveraged traders.
- On-chain and institutional flows supported the bounce: Solana’s real-world-asset stack topped roughly $3 billion, the SpaceX token SPCX did over $50 million in 24-hour volume, and spot Solana ETFs saw ~$2.81 million of net inflows.
- Near-term risks could still undo the rally because SOL remains below major moving averages and faces macro threats such as the upcoming FOMC decision, geopolitics that affect oil and risk appetite, and a recent rejection of a non-binding acquisition proposal by Solana Company.