Solana seeks $80 breakout despite relative weakness
Solana is approaching the key $80 resistance after a strong rebound from the 50 SMA. The next move will depend on whether buyers can increase trading volumes and restore the token's relative strength.
Solana has recently shown weaker price performance than Bitcoin and Ethereum. According to Santiment, the number of daily active addresses has remained between 2.5 million and 2.8 million, well below the local highs recorded in late June.
At the same time, activity on decentralized exchanges has remained relatively stable. Daily DEX volume on the Solana network is currently around $1.6 billion, compared with an average of more than $2 billion last month.
These metrics suggest that demand within the ecosystem remains intact, but they do not yet confirm the return of strong bullish momentum.
SOL rebounds but low volume limits momentum
After testing the 50-day simple moving average (SMA) near $73.50, Solana staged a strong rebound and climbed back above $78.
The key resistance remains at $80, where a local descending trendline also converges. A decisive breakout and sustained move above this area would increase the probability of an advance toward the June 4 high at $83.98.
However, trading volumes remain relatively subdued and do not yet confirm the strength of the current rebound. If buyers fail to break above $80, the probability of another pullback toward the $75 support area would increase.
Crypto market enters a gradual accumulation phase
The cryptocurrency market appears to be gradually entering an accumulation phase. Large holders and institutional investors are beginning to return, but capital inflows remain limited and do not yet confirm the formation of a sustainable market bottom.
Historically, accumulation phases have lasted up to 12 months. If the current cycle follows a similar pattern, the market could remain in a broad trading range through the end of 2026.
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