Overview
- SOL is trading around $78 after a roughly 5% rebound from the mid‑July low and sits just below the critical $80 daily‑close needed to shift short‑term momentum.
- Analysts say a daily close above $80 would open a run toward the $82–$84 zone and higher targets if that resistance is cleared.
- Derivatives data show large short‑liquidation clusters near $78.5–$80 that could force leveraged shorts to cover and rapidly amplify gains if price breaches about $79.
- Market confidence was dented when an attacker spent about $4.4 million to acquire BONK governance power and passed a proposal that drained roughly $20 million from the BonkDAO treasury.
- Key supports sit at $75.55, $72.50 and the June floor near $67 while intermittent ETF and on‑chain inflows provide patchy buying and a firmer dollar plus higher oil prices add downside pressure.