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Following
SOL Solana (SOL) is at a critical juncture, which may indicate a buying opportunity and is expected to rise to US$93
From the 4-hour chart below, SOL is still sorting in the rising channel, with the lower track at US$76. If the price continues to stabilize above this level, it means that a buy signal has appeared and is expected to rebound to $93.
According to Ali's analysis, data on multiple necklaces supports this judgment: in the past week, the number of SOL tokens deposited on the exchange to be sold has decreased. Reduced selling pressure also builds a stronger macro price floor for SOL around $75. In addition, as of the end of last week, cash SOL ETF inflows turned positive, recording US$948,200 in the week ended July 17. What is even more noteworthy is that since July 18, the number of new Solana addresses has increased by 500,000, indicating that network activity is increasing.
Key prices to watch
On the UTXO realized price distribution (URPD), SOL faces significant volume resistance in the US$76 to US$85 range. Users in this region have traded about 125 million SOL units. If SOL wants to hit US$100 or more, US$85 will become the next barrier to break through. If it falls below US$70, the trend will turn short and the currency price may face a deeper correction, close to the next high-volume URPD benchmark of US$53.
Not long ago, a hacker stole $1.65 million from the Solana Cross-Chain Bridge protocol. Although the incident highlighted security flaws inherent in the on-chain bridging protocol, it had little impact on SOL prices, with the currency still rising 2.2% in the past 24 hours and trading at US$77.43 as of press time.
