- Solana’s price structure mirrors late 2023, with the 50-day MA flipping to support, signaling accumulation before a potential upward move.
- Trading volume jumped 41.36% to $48.89B, while options surged 284%, showing increased market engagement and positioning for volatility.
- Retail sentiment shows optimism, with 5.8 bullish comments per bearish comment, aligning with rising structure and technical breakout conditions for $SOL.
Solana ($SOL) is showing similar price action to late 2023, suggesting a potential breakout. The 50-day MA remains a key support, with rising structure looking like accumulation ahead of a potential rally.
50-Day MA Remains Critical Support
The weekly chart of Solana shows that the 50-day MA serves as a pivotal trend line. This line was crossed down in late 2023, but SOL quickly regained it, initiating a sharp rise between $20 and almost $260.Current price movements mirror this prior behavior.
Rejections at the 50-day MA were observed in mid-2023 and mid-2025, showing the line’s influence on price direction. Once reclaimed, the MA flipped from resistance to support, creating conditions for strong upward momentum.
The recent price action highlights higher lows, reflecting buyers defending key levels. This rising structure signals ongoing accumulation, laying the foundation for a potential breakout if the MA continues to hold.
Market Activity Shows Growing Conviction
Derivatives and options data indicate intensified activity in Solana. Trading volume surged 41.36% to $48.89 billion, while open interest in futures climbed 6.60% to $13.11 billion. These shifts suggest increasing market engagement and confidence in SOL’s structure.
Volume is up 284.04% to $5.94 million as an indicator that traders are preparing to see volatility. Moderate growth in options open interest confirms steady accumulation rather than speculative spikes.
Long/short ratios point to bullish sentiment among major traders. Binance accounts show a top-trader ratio of 2.4666, reflecting strong positions favoring upside. Across exchanges, the market appears aligned with a possible breakout scenario.
Retail Sentiment Aligns with Technical Structure
Solana recently surpassed $211.70, approaching its February resistance. Santiment reports retail traders posting 5.8 bullish comments for each bearish comment, marking an 11-week high in positive sentiment.
The structure mirrors the 2023 pre-rally setup.Price has been above the 50-day MA, which is one of the key technical triggers that has historically drawn momentum traders. Maintaining this level can form conducive conditions of a breakout.
Historical trends show that after the MA flips from resistance to support, SOL can experience extended upward movements. Increasing structure, market activity, and retail optimism collectively support the breakout narrative.
