📈 Market Overview
Solana (SOL) is trading just below $158, having gained nearly 5% over the past week. After briefly dipping below $150, the token is back in recovery mode, driven by renewed DeFi activity on Solana’s ecosystem and growing anticipation around upcoming token airdrops.
📰 Notable Headlines
-
Solana DeFi TVL climbs 18% in June, now surpassing $4.3 billion — the highest since Q1 2022.
-
Jupiter (JUP) and other Solana airdrops continue to drive daily active wallet growth across the network.
-
Solana Mobile’s Chapter 2 preorders pass 150,000 units, reinforcing the project’s Web3 smartphone ambitions.
-
Helium Network traffic surges, as more IoT integrations onboard to Solana’s high-speed layer.
-
Visa expands USDC pilot to Solana, validating its speed and cost-efficiency for real-world payment trials.
🔍 Technical Analysis
Key Support and Resistance
-
Immediate Support: $150 — former resistance turned short-term support.
-
Major Support: $138 — long-standing trendline support from early Q2.
-
Resistance Levels: $158, $166, and $175 — the latter aligns with March 2025 highs.
Chart Signals
-
RSI holding around 61 — nearing overbought territory but still healthy.
-
MACD shows early bullish divergence on 1-day chart, a potential momentum continuation signal.
-
Golden Cross formation from mid-June continues to play out, keeping medium-term outlook positive.
Trend Summary
-
Short-Term Trend: Bullish continuation pattern forming.
-
Medium-Term Trend: Strengthening — aided by ecosystem adoption and TVL inflows.
-
Long-Term Trend: Remains robust, outperforming many Layer-1 peers on fundamentals.
🧠 Market Sentiment & Catalysts
-
User activity rising: daily active users and fees are up across the board, signaling organic usage.
-
Airdrop speculation continues to incentivize wallet creation and long-term holding.
-
Solana’s high TPS and low fees keep it an attractive destination for builders and institutions alike.
-
Layer-1 narrative rotation is favoring SOL again, as Ethereum lags in short-term growth.
🔮 Outlook
A breakout above $158 with volume could open the path to $166, followed by a retest of $175. Failing to hold $150 may lead to a pullback toward the $138–$140 support zone. Momentum appears on Solana’s side, especially if DeFi TVL and airdrop activity stay hot.
📌 Final Take
Solana is regaining attention in the Layer-1 battle, blending high-speed performance with a vibrant airdrop-fueled ecosystem. With on-chain activity heating up and price approaching critical resistance, SOL could soon flip the switch for another breakout.
