Solana: New Buy Signal Triggered... 85-Dollar Breakout Marks Next Upward Trend Threshold

Solana's three-day chart shows a buy signal on the super-trend indicator, fueling medium-term rebound expectations. According to blockchain media Decrypt, this is the first bullish reversal since October last year, with markets closely watching whether Solana can break the 79-85 dollar resistance. While the key focus is whether this signal translates into actual price breakout, Solana crossed above 78 dollars on June 30, triggering the super-trend's 'buy' signal and rising 16% to 83.98 dollars. On-chain indicators support short-term improvement, as investors withdrew approximately 150,000 SOL ($120 million) from exchanges between June 24 and July 3, indicating increased self-custody and reduced short-term selling pressure. New addresses on the Solana network also rose by 1.6 million in the past three weeks, aligning technical signals with on-chain flow. However, the uptrend isn't immediate, with the 79-85 dollar range remaining the primary obstacle. UTXO data shows about 15 million SOL traded in this price range, signaling a dense supply area where holders may sell. Failure to reclaim this range could revive selling pressure, particularly if prices fall below 74 dollars, potentially disrupting the bullish trend and increasing the risk of deeper corrections. The next key support level is around 53 dollars.