TLDR
- Solana traded near $78.37 after recovering from June lows.
- SOL faces a key resistance zone between $79 and $85.
- About 105M SOL were transacted in the $79 to $85 range.
- Santiment said Solana negative sentiment hit a 2026 high.
- PumpFun sold 122,498 SOL worth about $10.08M.
Solana is trading near $78.37 after recovering from its June lows, but traders remain cautious as negative sentiment rises and trading volume weakens.
SOL is up about 0.13% over the past day, leaving the token near a key technical level. Analysts are watching whether Solana can reclaim the $79 to $85 resistance zone, where a large amount of SOL previously changed hands.
Market data shared by Santiment showed Solana’s trading volume has fallen to its lowest level of 2026, while negative commentary has climbed to its highest point of the year. That mix has drawn attention because low participation and heavy fear can sometimes appear near turning points, though price confirmation is still needed.
Solana Faces $79 to $85 Resistance
Analyst Ali Charts said Solana is trying to reclaim the $79 to $85 range. He cited URPD data showing that about 105 million SOL were transacted in that zone, making it a dense supply area.
That level matters because holders who bought there may sell near breakeven if price returns to their entry. A clean move above the zone could reduce overhead supply and allow SOL to target higher levels.
SOLANA: BIG SUPPLY WALL
Solana is currently attempting to reclaim a resistance zone between $79 and $85.
According to URPD data, roughly 105 million SOL were transacted within this range, establishing a dense supply cluster.
Reclaiming this zone as support clears the overhead… https://t.co/CZXB9kPtOz pic.twitter.com/jiZI3GJ8z4
— Ali Charts (@alicharts) July 8, 2026
Ali said reclaiming the area as support could open the way toward $100, followed by a secondary target near $127. Those targets depend on whether Solana can hold above the resistance zone and bring back trading demand.
A failed breakout may keep selling pressure active. Ali warned that rejection from the $79 to $85 zone could shift attention toward lower support near $53.
Santiment Flags High FUD and Low Volume
Santiment said Solana is facing a sharp rise in negative sentiment while trading activity falls. The firm said SOL’s trading volume has dropped to its lowest point of 2026.
The negative commentary comes despite strong Solana narratives around tokenized stocks, real-world assets, and network activity. Traders have shown frustration because those themes have not yet produced a strong price recovery.
Source: Santiment
Santiment said this setup can become interesting when retail attention is low and sentiment turns heavily negative. The firm suggested that thin trading and high fear can leave less resistance if larger holders push price higher.
That view remains conditional. Solana still needs a price breakout and stronger volume before traders can confirm a wider recovery.
PumpFun Sales Add Pressure on SOL
Solana also faces supply concerns from PumpFun-related sales. Crypto Patel said PumpFun sold another 122,498 SOL worth about $10.08 million.
The platform has reportedly sold about 4.66 million SOL worth roughly $794.8 million at an average price of $170.7 per coin. Those sales remain a point of concern for SOL holders watching sell pressure.
Large token sales can weigh on market sentiment, especially when price is already trading below major long-term levels. However, the effect depends on liquidity, buyer demand, and whether sales continue.
Source: X
Technically, SOL is pressing against the upper boundary of a descending channel on the three-day chart. A confirmed close above $78 could signal a breakout, with possible targets at $105, $125, and $155.
A close back below $72 would weaken that setup. For now, Solana’s price outlook depends on whether buyers can turn the $79 to $85 supply wall into support while volume returns.
