Solana demonstrates resilient bullish sentiment despite a recent price correction from $168 to approximately $160. Positive funding rates persist across derivatives markets, reflecting robust trader confidence that sustains SOL’s upward trajectory momentum.
Technical analysis reveals a decisive golden crossover pattern, with the 20-day Exponential Moving Average (EMA) firmly positioned above the 50-day EMA. This configuration typically signals sustained bullish trends and reinforces expectations for continued upward price movement.
However, between July 10 and 14, SOL exhibited bearish divergence on the Relative Strength Index (RSI), suggesting potential near-term cooling. Critical support currently holds at $158 – maintaining this threshold is crucial for preserving bullish structural integrity.
Market analysts emphasize that failure to hold $158 support could precipitate a slide toward $152, potentially triggering deeper corrective action. Conversely, sustained bullish conditions may propel SOL toward targets near $179 and $184, though traders are advised to monitor RSI developments given emerging volatility signals.