Solana News Today: Solana Price Rebounds on $80 Support as Futures Volume Surges 252%

Solana's price has retested the $113 resistance level following a significant rebound from the $80 support zone. The cryptocurrency has shown signs of bullish momentum, with the latest weekly candle confirming a strong upward move. Crypto analyst Crypto Tony expressed confidence in a potential breakout above $113, indicating a long position if the price closes above this key level [1].

Institutional activity in Solana has surged, particularly in the futures market. According to CoinGlass, CME Solana futures volume increased by 252% in July 2025, reaching $8.1 billion. Open interest also rose by 203%, hitting $400.9 million in the same period. Analysts attribute this surge to growing anticipation around potential Solana spot ETFs. Several firms, including Franklin Templeton, VanEck, and Bitwise, have submitted applications for such products, which have fueled optimism in the market [2].

However, shorter-term technical indicators suggest caution. A rounded top pattern on the 4-hour chart indicates a potential bearish reversal. Solana has declined 22.77% from the $210 range to around $164. If this bearish trend continues, the price could drop another 22.77%, with a downside target of $123. Increased volume during the recent decline confirms growing sell-side pressure, and the Awesome Oscillator remains in negative territory, reinforcing bearish momentum. A close below the $159 support level could accelerate further losses [3].

The price action and technical indicators present a mixed outlook. While the longer-term chart suggests a potential breakout, shorter-term bearish patterns highlight the risk of a pullback. Investors are closely watching for a decisive move either above $113 or below $159 to determine the next phase of Solana's trajectory.

Source: [1] https://coinmarketcap.com/community/articles/688f657aaba96a1b6ac73d6b/