Solana (SOL) Price: SOL Flashing the Same Pattern That Started Its Last Bull Run

TLDR

• SOL is trading around $71 after bouncing from a key $60 support zone
• Analyst Matthew Dixon flags the FOMC meeting as a potential macro headwind near $70
• Open interest rose slightly to $4.72B while trading volume dropped 25.83% to $4.17B
• Crypto analyst BATMAN highlighted a weekly MACD bullish divergence on SOL

Solana is attempting a recovery after finding buyers at the $60 support level. The coin is now trading around $71, putting it at a key decision point on the weekly chart.

Analyst Daan Crypto Trades identified $67 as the February low, a level SOL must reclaim and hold to signal a structural shift in favor of buyers. Failing to do so could send the price back toward $60.

If SOL does hold above $67, the next targets to the upside are $79 and $95 on the weekly chart, according to the same analysis.

Analyst Matthew Dixon is watching the $68–$70 zone on the 4-hour chart. He noted that SOL has recovered from oversold RSI conditions and is moving through Fibonacci levels after bouncing from $60.

Dixon also flagged the upcoming FOMC meeting as a near-term risk. A hawkish tone from the Fed could pressure risk assets, potentially capping the rally around the $70 area.

Crypto analyst BATMAN pointed out that SOL’s weekly MACD has triggered a bullish divergence from the same structural wedge breakout that preceded a previous major bull run, a pattern traders are paying close attention to.

Derivatives Data Shows Caution

Open interest on SOL derivatives rose 0.29% to $4.72 billion. Trading volume, however, dropped 25.83% to $4.17 billion, suggesting that while exposure remains in place, active trading has slowed.

The funding rate sits at -0.0023%, which indicates slightly negative sentiment. Traders are holding positions but leaning cautious.

Analyst BitGuru noted on June 14 that Solana appears to be stabilizing around a key support level, with buyers gradually returning to the market.

BitGuru’s near-term target is the $80–$82 range, which is seen as the next resistance zone if upward momentum continues.

Price Snapshot

At the time of the source articles, Solana was trading at $71 with a 24-hour volume of $2.76 billion and a market cap of $39.27 billion. The price was down 1.26% over 24 hours.

Matthew Dixon’s broader outlook still expects a market low around October, tied to Bitcoin’s halving cycle. He views the current move as a short-term relief rally unless SOL can sustain momentum above $70.

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