SOL rebounds to $82.45 after $281M shorts liquidated, with traders watching $78 support and range-high targets.
Solana traded near $81.90 on the daily Coinbase chart after recovering from its recent breakdown below range support.
The rebound brought SOL back into the consolidation area it had traded within for several months.
The recovery followed a sharp flush of more than 20% after the June breakdown. That move cleared long positions and swept the February low before buyers returned near the mid-$60 area.
Market data cited by traders showed about $281 million in short liquidations over the past 24 hours.
This added fuel to the recovery as forced short closures helped push SOL back above key levels.
SOL was also up about 19% on the week, placing the $78 support area in focus. Traders are now watching whether Solana can hold the range retake and move toward the range high.
SOL Retakes Key Range After June Breakdown
Solana has moved back into the range where it traded for several months before the latest breakdown.
The earlier move lower removed long positions and also swept the February low. However, the quick recovery has returned attention to the prior consolidation zone.
The first daily close back above the range is being watched by traders as a constructive signal.
A sustained hold above $78 would keep the range retake active. If SOL loses that level, the recent recovery could weaken.
$SOL Already back in the range after that sharp 20%+ flush following the June breakdown.
We were tracking this range before. The breakout took out the longs and the February low. It is now retaking the range it spent months consolidating in. The $281M short liquidations over the… https://t.co/llcIDf282b pic.twitter.com/7rTAdwXLqz
— Daan Crypto Trades (@DaanCrypto) July 3, 2026
The $80 to $82 area is also important on the current chart. It sits near the lower part of the larger Fibonacci structure.
Therefore, price action around this zone may guide the next short-term move.
Liquidations Help Fuel Fast Recovery
The reported $281 million in short liquidations helped add pressure on sellers during the rebound.
When short positions close quickly, buying activity can increase in a short period. This can support fast moves after a crowded bearish trade breaks down.
The recovery also came after SOL dropped more than 20% following the June range break.
That decline brought the price into the mid-$60 area before buyers returned. Since then, Solana has moved back toward the low end of its former range.
Still, the broader daily trend has not fully reversed. SOL remains well below previous highs above $220.
A move through nearby resistance is needed before stronger upside confirmation can develop.
Read Also:
Solana RWA Boom Hits $3.03B as Transfer Volume Jumps 120.5% in Just One Month
Traders Watch $100 and Range High
The next resistance area sits between $90 and $100. SOL has recently traded sideways near that zone, which may create selling pressure.
A clean move above $100 would improve the short-term structure. The first major Fibonacci resistance on the chart is near $112.26.
Above that, the next levels are around $137.29 and $154.87. These zones could become targets if SOL holds the range and buyers remain active.
SOL holds near $82 as momentum improves, source: TradingView chart
Momentum indicators show improving conditions, though caution remains.
The RSI is near 65.91, which shows stronger buying pressure but is close to overbought levels. Meanwhile, MACD is slightly positive, with both lines still close together.
Leave a Reply
You must be logged in to post a comment.