Solana (SOL) is showing fresh signs of bullish momentum after a new technical buy signal emerged alongside notable on-chain activity that suggests investors may be accumulating the cryptocurrency rather than preparing to sell.
Crypto analyst Ali Martinez, known as Ali Charts, highlighted that the SuperTrend indicator has turned bullish following Solana’s move above the $78 level on June 30. According to the analysis, the trend reversal marks the first significant bullish signal on the higher time frame in several months, potentially signaling improving market conditions for the asset.
However, despite the positive technical outlook, Solana still faces a significant resistance zone that could determine whether the cryptocurrency can extend its recovery toward the $100 to $127 price range.
Technical Indicators Turn Positive
The SuperTrend indicator is widely used by traders to identify shifts in market momentum by combining price action with the Average True Range (ATR), a measure of volatility. When the indicator flips below price, it is generally interpreted as a bullish trend reversal.
According to Ali Charts, the latest signal is the first major bullish confirmation since late 2025, suggesting that Solana’s broader trend may be improving after months of price consolidation.
While technical indicators alone cannot predict future price movements, they often provide traders with important signals regarding changing market sentiment and potential trend direction.
Related: Is Solana Ready for a Rebound? Negative Sentiment Hits Record High in 2026
The analysis also notes that Solana’s recovery has been supported by improving on-chain fundamentals, adding further weight to the bullish technical picture.
Even so, analysts caution that a major resistance zone still lies ahead. If buyers fail to overcome this level, upward momentum could weaken before any sustained rally develops.
Exchange Outflows Suggest Accumulation
Supporting the technical outlook is a notable decline in exchange balances.
Between June 24 and July 3, approximately 1.5 million SOL tokens were withdrawn from cryptocurrency exchanges, according to on-chain data referenced by Ali Charts.
Exchange outflows are often monitored because they can indicate investors are transferring assets into self-custody or long-term storage rather than leaving them on trading platforms where they can be sold more easily. Although withdrawals do not guarantee bullish price action, sustained outflows are frequently interpreted as a sign of reduced immediate selling pressure.
Combined with the new SuperTrend buy signal, the movement of SOL off exchanges has strengthened the narrative that some investors are positioning for a longer-term recovery.
Related: Solana Price Prediction: SuperTrend Buy Signal Suggests SOL Could Target $100
However, market participants remain focused on whether Solana can successfully break above its next major resistance area. A decisive move beyond that level could open the path toward the analyst’s projected range between $100 and $127, while rejection could result in another period of consolidation.
As always, cryptocurrency markets remain highly volatile, and technical indicators should be considered alongside broader market conditions, macroeconomic developments, and risk management strategies.
For now, Solana appears to be showing improving momentum, with both chart patterns and on-chain activity suggesting that investor sentiment may be gradually shifting back in favor of the network. Whether that optimism translates into a sustained breakout will likely depend on the strength of buying pressure in the sessions ahead.
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