As of June 29, 2026, Solana (SOL) is trading at approximately $70.67, reflecting a slight decline of 1.82% over the past 24 hours. The cryptocurrency remains above the crucial $70 support level, but bullish momentum has yet to confirm a trend reversal, leaving traders on edge.
The immediate focus for market participants is the $72–$75 range, where a descending trendline currently resides. A successful reclaim of this area is essential for bulls to catalyze a more substantial upward movement. If SOL manages to break above the $75 threshold, the next significant resistance level is pegged at $80. A confirmed close above this point would signal a shift in short-term momentum towards buyers, potentially setting sights on targets of $90 and $95, areas that align with visible upside liquidity on the charts.
Conversely, should SOL fail to maintain the $70 support, a downturn could see prices plummet towards the $65–$60 range, with further declines risking a revisit of the $50 liquidity zone.
Renowned analyst Michaël van de Poppe recently shared insights on social media, suggesting that SOL looks poised to break back into a bullish range. He emphasized that a range flip could present an attractive buying opportunity, with potential price targets between $120 and $130 anticipated in Q3 or Q4 of this year.
Network Activity on the Rise
In addition to price action, Solana’s network activity has reached new heights, with tokenized equities achieving a daily volume record of $553 million. Analyst Whale Factor highlighted that Solana’s on-chain use cases are diversifying beyond mere meme coins and traditional crypto trading.
Currently, Solana’s Real World Assets (RWA) ecosystem boasts a total value of $3.18 billion, with over 291,000 holders, making it the leading blockchain by RWA holder count. Furthermore, app revenue on the platform reached $19 million last week and $85 million in the previous month, while weekly decentralized exchange spot volume hit an impressive $12.3 billion.
Long-Term Outlook
On the technical analysis front, analyst JAVONMARKS has identified a cup and handle pattern on the 12-day chart. A breakout above the $260–$280 resistance zone with strong volume could validate this pattern, projecting a target above $500. Similarly, analyst Crypto Patel has a long-term strategy that involves accumulating Solana between $40 and $60, with ambitious targets set at $500 and even $1,000.
Patel likened the current market correction to the bottom observed between 2022 and 2023, which preceded the subsequent rally in 2023–2024. Meanwhile, a falling wedge pattern is also forming on the broader chart, indicating a long-term target near $233 if SOL successfully breaks out of this structure.
However, the daily chart still necessitates a close above the descending trendline to solidify the bullish case. According to analyst Dami-Defi, the weekly MACD has not yet crossed into bullish territory, suggesting that caution may still be warranted.
As it stands, SOL last traded at $71.44, reflecting a minor decrease of 0.43% in the last 24 hours according to Brave New Coin data. The coming days will be pivotal as traders watch closely for signs of momentum shift that could potentially redefine Solana’s price trajectory.
