Solana trading volume set a $553 million daily record! What does this mean for the price?
Solana was trading at approximately $70.67 on June 29, 2026, a 1.82 percent decline in the last 24 hours. Despite this drop, the cryptocurrency managed to stay above the crucial $70 support level. However, analysts note that buyers have yet to generate a decisive signal indicating a sustained trend reversal.
The $72 to $75 zone marks the first resistance
Market watchers are closely monitoring the $72 to $75 range, which stands out as the descending resistance area. For Solana to kick off a more significant upward move, the price must reclaim this zone convincingly.
If SOL surpasses the $75 level, the focus will swiftly shift to the $80 mark. According to analysts, in the short term, a daily close above $80 is the key validation point for a continued rally. Should this confirmation be achieved, near-term targets around $90 and $95 could come into play—levels that align with upward liquidity clusters visible on the charts.
| Level | Significance |
|---|---|
| $70 | Key short term support |
| $72 to $75 | Downward sloping resistance zone |
| $80 | Validation threshold for breakout |
| $90 to $95 | Potential near term targets |
| $65 to $60 | Support zone in case of breakdown |
If the $70 support fails, the price may retreat into the $65 to $60 range, with the possibility of testing liquidity around $50 should selling pressure intensify.
Known for his technical insights in the crypto market, Michaël van de Poppe projects that Solana could reach the $120 to $130 range in the third or fourth quarter. He sees a return to the old trading band as a strong buy indicator for SOL.
On chain data puts volume in the spotlight
Tokenized equity transactions on the Solana network reached $553 million in daily volume, setting a new record. Market observer Whale Factor emphasized that this number proves Solana’s ecosystem extends far beyond just meme coin and traditional crypto trading activities.
Solana’s total ecosystem in real world assets has climbed to $3.18 billion according to available data. With more than 291,000 active investors in this space, Solana ranks among the leading blockchains by participant count.
Over the past week, protocol-generated revenue from applications built on the network reached $19 million, with a monthly total of $85 million. Decentralized exchange spot trading volume hit $12.3 billion over just seven days.
Technical outlook: higher targets on the radar
Chart analyst JAVONMARKS has detected a “cup and handle” pattern in the 12 day timeframe. For this bullish setup to be confirmed, SOL must break through the $260 to $280 resistance area with high volume—a move that could conceivably set $500 as the next technical target.
A falling wedge pattern is also being monitored in the broader timeframe. Breaking upwards from this formation could point toward a long term projection of roughly $233. Meanwhile, analysts stress that on the daily chart, a close above the descending trendline would further reinforce the bullish case. Technical analyst Dami-Defi notes, however, that the weekly MACD indicator has yet to signal a clear bullish crossover.
Brave New Coin data most recently recorded SOL at $71.44, a 0.43 percent dip over the past 24 hours.
The post Solana trading volume set a $553 million daily record! What does this mean for the price? appeared first on COINTURK NEWS.
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