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SOL Solana is at a high point
After nine consecutive months of decline,$SOL has just closed its first monthly positive line. This Solana price forecast will explore whether this rebound can be sustained.
The token is currently trading at approximately $78, up nearly 38% from the cyclical low of $60. This wave of increase alone added nearly $14 billion to Solana\'s market value.
Is Solana prices currently rising or falling?
Solana is in recovery mode, but not straight up. On a daily chart, SOL operates in the range of $76 to $82, right in the middle of the rising wedge that has formed since early June.
The 20-day moving average is around US$76.56, and the 50-day moving average is at US$76.67. Both are close to current prices, indicating that the market is not yet clear.
The 100-day moving averages (US$81.56) and 200-day moving averages (US$96.10) are still well above spot prices. The upper set of moving averages is the main resistance area that bulls need to clear.
The RSI indicator is 54.09, which is in the neutral range. The market is neither overbought nor oversold, and there is room in both directions.
Why are Solana prices fluctuating today?
Data on network usage is more telling than charts. According to data shared by MSBIntel, Solana has processed 1 billion non-voting transactions in a single week for the first time, bringing the cumulative total transaction volume to 116 billion.
This increase in throughput-mainly due to the memin launch platform and speculative trading-suggests that the demand for block space remains real even though token prices have stagnated before.
The flow of funds also supports this trend. SoSoValue data shows that the daily net inflow of Solana products is US$1.67 million. Although the amount is not large, it is a positive sign after months of outflow.
How many SOL has Pump.fun sold?
Not all good on the surface. According to Lookonchain data, Pump.fun sold another 122,498 SOL units in a single day, worth approximately US$10.08 million.
So far, Pump.fun has sold a total of 4,656,826 SOL units, with a total value of approximately US$794.8 million based on an average price of US$170.70.
This source continues to generate selling pressure and deserves close attention as SOL attempts to bottom out.
What does Solana Futures and Clearing Data show?
According to futures and clearing data: spot price is US$78.05, a 24-hour change of-4.22%, futures 24-hour trading volume is US$8.56 billion, open interest is US$5.30 billion, market value is US$45.42 billion, 24-hour long-short ratio is 0.9417, Binance long-short account ratio is 1.9403, 24-hour long positions are US$15.27 million, and short positions are US$2.81 million.
Open interest contracts and long positions remain heavy, with short-term long liquidations exceeding short positions in the past day. This suggests that although the overall trend has improved, some leveraged buyers have suffered losses in the recent correction.
Solana Price Forecast: Where is the next level of resistance?
If the daily closing price can stand above US$80, it will be the first real proof that the bulls are in control of the situation. This could open the path to $97, where the 200-day moving average is located, and eventually hit the $120 area that some analysts are focusing on.
On the downside side, the US$60 to US$65 range remains the bottom support. If it falls below this zone, the recovery story will once again face doubts.
The nine-month decline is a heavy trend that is difficult to reverse. A monthly positive line does not confirm the start of a new bull market, but rising trading volumes and stable capital inflows do provide solid evidence for bulls.
