As of July 11, Solana (SOL) is trading around $163.50, reflecting a steady upward movement that has gained attention from traders and institutional investors. The daily range fluctuates between $155.92 and $166.63, suggesting a test of near-term resistance levels. The 24-hour gain stands at approximately 3.5%, signaling continued bullish sentiment after several days of upward momentum.
Market Capitalization and Trading Volume Support Bullish Outlook
Solana currently holds a market capitalization exceeding $87 billion, ranking among the top five Layer-1 blockchain assets. Over the past 24 hours, trading volume surged to over $6 billion, well above the average, pointing to increased activity across both spot and derivatives markets.
Such volume spikes often precede critical price breakouts, particularly when coupled with strong macro sentiment.
Technical Levels to Watch: Support at $160, Resistance at $167
From a technical standpoint, SOL has established strong support around the $160 mark, a level that previously acted as resistance during late June. If the asset can maintain support above this level, upward momentum could lead to a breakout beyond $167, opening the path toward $175–$180 resistance zones in the short term.
Relative Strength Index (RSI) on the 4-hour chart hovers near 62, indicating healthy bullish momentum without entering overbought territory.
Catalysts Behind Solana’s Price Strength
Solana’s price action is being driven by multiple ecosystem factors:
- High DeFi and NFT activity on the network
- Consistent total value locked (TVL) growth in staking and liquidity protocols
- Developer activity and institutional partnerships supporting long-term fundamentals
The broader crypto market, led by Bitcoin’s recent surge past $117,000, has also lifted sentiment across altcoins, with Solana among the leading gainers.
SOL Bulls Eye Breakout as Momentum Builds
Solana remains in a favorable technical structure, supported by volume and bullish market structure. If buyers can maintain control above $160 and push through $167, the asset may revisit higher targets near $180 in the coming sessions. Traders should monitor key support levels and remain alert for breakout confirmation with sustained volume above current highs.
Solana continues to solidify its place as a high-performance blockchain with strong investor confidence behind its price action in July 2025.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.