Solana price has stalled near $76 after repeated failures at $80, as two ecosystem exploits, weak momentum, and geopolitical stress have kept traders cautious.
Summary
- Solana price remains below $80 as security incidents weigh on trader sentiment.
- Bearish daily momentum contrasts with positive 4-hour capital flows near $76.
- Losing $73 could expose SOL to $70 and the mid-$60s region.
According to data from crypto.news, Solana (SOL) price traded at $76.12 at the time of writing, down 0.34% on the daily candle after moving between $75.50 and $77.40. The token has gained only about 0.3% over the past seven days, compared with a 3% rise across the global crypto market.
Security concerns have weighed on sentiment throughout July. An attacker drained roughly $20 million from BonkDAO after spending about $4.4 million to acquire enough BONK to pass a malicious governance proposal. Only seven wallets voted, and the proposal received 99.9% approval.
Another attack hit Allbridge Core on July 20. crypto.news reported that the exploiter borrowed $1.12 million in USDC through Kamino, manipulated the protocol’s USDC-USDT pool and extracted more than $1.1 million before routing the funds through privacy tools. Some estimates placed the total liquidity loss near $1.65 million, while Allbridge paused the protocol and began investigating the incident.
Phantom also reported degraded performance for token transfers and swaps on July 12. Account balances and other wallet functions remained available, but the disruption added friction for users during a week in which SOL was already struggling to draw enough demand for a break above $80.
Network activity has provided little relief. Trading on Pump.fun and other speculative venues has fallen from previous peaks, reducing the fee activity that once accompanied Solana’s memecoin boom. Stablecoin balances on the network may offer deployable capital, but holders must exchange those assets for SOL before that liquidity can support the token directly.
Solana price must reclaim $80 to confirm a bullish reversal
The daily chart places the main resistance at $79.96, where SOL’s early-July recovery failed, and sellers pushed the price back toward $75. A daily close above $80 would clear the psychological barrier and reopen the route toward the July swing high around $83, followed by the $90–$98 region.
According to analyst Daan Crypto Trades, SOL now sits at a decisive high-time-frame area where its next reaction could set the direction for the coming weeks.
“Either the bulls push through and set a higher low here to take a stab at the range high in the $90s. Or this rejects here and dribbles back down to that mid $60s area.”
Daily momentum has weakened since the early-July rally. The moving average convergence divergence line has dropped to 0.23, below its 0.63 signal line, while the histogram has slipped to minus 0.40. Buyers still control the medium-term structure above the daily Supertrend at $69.62, but the bearish MACD crossover leaves SOL exposed to another test of support.
On the 4-hour chart, SOL remains inside a descending parallel channel that began after the July 3 peak near $83. Price has reached the upper boundary around $76–$77, making a confirmed close above the trendline necessary before traders can treat the latest advance as a breakout.
Conflicting momentum readings keep that setup unresolved. Aroon Down stands at 78.57%, compared with Aroon Up at 14.29%, giving sellers the stronger recent trend reading. Chaikin Money Flow, however, sits at 0.23, which shows that net capital flow over the measured period remains positive despite the lower highs.
The one-week liquidation heatmap shows concentrated leverage above the market at $77.50–$78.20, with another dense band near $78.80. A move through those levels could force short liquidations and help SOL retest $80. Smaller liquidity pockets sit near $76.40, while downside clusters around $74.20–$75 could draw price lower if buyers lose control of $75.41.
Break below $73 would invalidate the recovery attempt
Immediate support rests at $75.41, followed by the stronger daily level at $73.44. A close below the latter would weaken the higher-low structure and expose the lower edge of the 4-hour channel near $71. The Supertrend at $69.62 would then become the last major defense before Daan’s mid-$60s bearish target returns to view.
Macroeconomic conditions also threaten the setup. Renewed U.S.-Iran hostilities have pushed oil above $90 per barrel and lifted the average U.S. gasoline price back to $4, according to AP. Higher energy costs could keep inflation elevated and limit the Federal Reserve’s room to reduce interest rates.
The 10-year Treasury yield rose to about 4.56% on July 20, while the dollar index held near 100.8. Persistently high yields and a firm dollar could keep institutional portfolios defensive and restrict capital flows into volatile altcoins.
For bulls, the clean confirmation remains a daily close above $80 followed by a successful retest. Until then, SOL remains trapped between positive spot inflows on the 4-hour chart and a weakening daily momentum structure, with $73–$80 defining the next decisive range.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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