TLDR
- SOL is up 12% in the past 30 days, trading around $77
- Solana ETF inflows hit a two-week high, led by $5.83M into BSOL
- Dormant wallets returning to Solana DEXs surged 400% in one week
- Key resistance sits at $78; a break above $97.89 could open the door to $120–$130
- A MA crossover signal has appeared, suggesting buying pressure is building
Solana is up 12% over the past 30 days, making it the second best-performing asset in the top 5 by market cap. At press time, SOL was trading around $77 with daily volume at $1.61 billion.
Trading volumes have pulled back slightly from $2.2 billion to $1.7 billion after four straight days of green candles. The market appears to be taking a breather.
Solana ETF inflows turned positive this week, with investors putting $7.2 million into SOL-linked ETFs. The Bitwise Solana Staking ETF (BSOL) led activity, recording $5.83 million in inflows on July 21 — the highest single-day total in two weeks.
The following day, ETFs saw outflows of $1.27 million, roughly a quarter of the prior day’s inflows. Net inflows for July stand at nearly $12 million, compared to a $786,000 net outflow in June.
That said, July’s pace is down 86% from May, when $115 million flowed into Solana ETFs while SOL traded near $80.
Dormant Wallets Return
Dormant wallets returning to Solana DEXs hit 62,000 last week, up from below 20,000 the week before. That’s a 400% jump and the highest returning user count in over a year.
Solana’s stablecoin supply also hit a new all-time high of $17 billion, according to DeFi Llama. Application fees, however, remain heavily depressed at two-year lows.
Crypto analyst Michaël van de Poppe posted on X that SOL is “holding the range low” and predicted it’s “just a matter of time” before the token accelerates toward $120. Van de Poppe has been watching SOL’s base at $75 as a key level of support.
The path of $SOL remains the same.
It’s holding the range low and, to me, it’s just a matter of time until this starts to accelerate towards $120. pic.twitter.com/hv6rVMtkxl
— Michaël van de Poppe (@CryptoMichNL) July 21, 2026
Key Price Levels to Watch
A moving average crossover has occurred, with the fast MA rising above the slower MA — a setup traders watch for trend changes. The RSI is also trading above neutral, suggesting buying pressure.
SOL needs to close above $97.89 to shift its structure from bearish to bullish. Below that level, the trend remains technically bearish.
If Solana breaks the $78 resistance zone, analysts are eyeing $90–$95 as the next target, where the 200-day EMA currently sits. A sustained move above $97 could push the price toward the $120–$130 range.
The Crypto Fear and Greed Index sits at 39, near Neutral. Over 50% of analysts tracked by FedWatch expect a 25 basis point Fed rate hike by September, which could limit upside for altcoins near-term.
Solana and Hyperliquid ETFs currently account for nearly 80% of non-BTC/ETH ETF trading volume, with total Solana ETF assets under management approaching $1 billion.
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