Overview
- Solana broke above a falling wedge in early August, moving into the mid‑$70s and creating short‑term buy signals such as a daily TD Sequential and a MACD golden cross.
- The immediate gatekeeper is the $77–$79 band; a sustained close above that area would open targets around $80–$84 and conditionally higher levels near $98–$100 if follow‑through holds.
- U.S. spot Solana ETFs showed no inflows on Aug. 7 and held about $870 million in assets, leaving institutional flows neutral for now rather than driving the move.
- Two governance proposals (SIMD‑0550 and SIMD‑0553) that could sharply increase disinflation and daily SOL burns are pending validator approval through Aug. 18 and would change supply dynamics if adopted.
- Derivatives and liquidation maps show concentrated short liquidity around $79–$79.50 that could fuel a short squeeze on a break higher while failure to hold low‑$70 support would risk another leg down toward the $72–$74 area.