In this video I break down the current market structure for Solana and analyze why the recent price action remains corrective. I examine the daily and hourly time frames to identify key support and resistance levels while assessing whether a major low has been established or if the asset remains in a broader downtrend.
I also compare the performance of Solana against Bitcoin to determine if there are any signs of relative strength or potential for outperformance. By utilizing Elliott Wave principles, I evaluate the validity of the recent recovery and highlight the price points that would serve as confirmation for either a continuation of the bear market or a potential reversal.
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Solana (SOL) Price News & Insights Today 23-7-2026 - Technical analysis, focusing on market structure, key support and resistance zones. Video by More Crypto Online.
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Solana Insights Today
The live price of Solana (SOL) is $77.67, experiencing a minor decline of 0.16% in the last 24 hours with a total market cap of $45.26B. Buyers have consistently defended the crucial support band between $74 and $75 over the past week. However, repeated rejection at the $80 psychological resistance level has kept the asset tightly consolidated.
-Cup-and-Handle Setup: The daily chart continues to form a bullish cup-and-handle pattern, suggesting a potential medium-term target of $105–$106 if a daily close above $80 is secured.
-Ecosystem Headwinds: A security compromise resulting in a $20 million drain from the BonkDAO treasury has dampened memecoin activity and temporarily weighed down network sentiment.
-Institutional Baseline: Inflows to spot Solana ETFs have temporarily slowed to under $1 million per week, flashing mixed short-term institutional demand despite recent product filings.
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