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Solana Price Prediction: SOL Enters Bull Market Territory as Market Sentiment Shifts
- SOL-USD
Solana (SOL) has risen by nearly 25% in the past 7 days and has already hit our previous target of $90 per token after the U.S. Securities and Exchange Commission (SEC) proposed a new regulatory framework for crypto assets.
Trading volumes for this altcoin have surged by nearly 50% to $9.5 billion. This accounts for 17% of the asset’s circulating market cap, as this spike above key resistances triggered a massive short squeeze.
Over $4.6 billion worth of short positions were liquidated in the past 3 days alone, as Solana pushed past the 200-day exponential moving average (EMA) and two former supply zones at $78 and $90.
August 18’s daily liquidation of $2.9 billion was the 8th largest single-day wipeout in the history of the crypto market. In previous instances, these massive cascade liquidations have often marked the beginning of new price cycles.
The Last Time This On-Chain Signal Flashed, SOL Rose by 70%
Net inflows to ETFs linked to this altcoin have now surged to $38 million — the highest positive print since May.
As we have been stating recently, a crossover between the 30-day and 50-day moving averages for daily active users (DAUs) anticipated a big move ahead for the token.
In June 2025, this same crossover resulted in a sustained uptrend that pushed SOL from $145 to $245 in just a few months. We believe that this strong move could mark the beginning of another bull market for the token.
In addition, market sentiment has turned around dramatically this week, as the Crypto Fear and Greed Index steps out of Neutral territory at around 36 to around 76 at the time of writing, indicating that investors are now greedy.
SOL Could Pull Back to $83 After This Strong Rally and That’s OK
Turning to the daily chart, we can see how the latest price action hitour latest Solana price prediction in just three days. This $90 level was a relevant technical price area as both the 200-day EMA and a former supply zone were in confluence.
Now, we expect a pullback to that 200-day EMA in the near term as the Relative Strength Index (RSI) just entered overbought territory. The vertical nature of the movement increases the odds of a major drop, possibly eyeing the $83 level as the lowest point.
This can be considered a normal move for market participants to take profits after such a strong rally, and evidence of that is already starting to show up.
We can see a huge upper wick in today’s candle, reflecting that the selling pressure is increasing. Such a decline, if it happens, could give late buyers another chance to grab SOL at a lower price for a more advantageous entry.
Source: finance.yahoo.com