Summary Solana maintained upward pressure on July 31, gaining 1.95% to trade near $181.22 as the asset consolidates after testing major resistance. The $178–$180 zone, previously marked by supply, has now flipped into support and is being defended strongly by bulls. Futures market data reinforces Solana’s technical resilience. By Parshwa Turakhiya Solana ( SOL-USD ) maintained upward pressure on July 31, gaining 1.95% to trade near $181.22 as the asset consolidates after testing major resistance. Price action has returned to the short-term uptrend after recovering from last week’s dip below $175, supported by the rising 20- and 50-day EMAs. The $178–$180 zone, previously marked by supply, has now flipped into support and is being defended strongly by bulls. On the daily chart, SOL price continues to trade inside a broader macro triangle stretching back to Q1 2025. The recent rally from the $150 breakout zone toward $200 triggered a round of long liquidations but failed to alter the broader bullish structure. SOL price dynamics (Source: TradingView) Price remains well above the 20/50/100/200 EMA cluster, and the recent higher low confirms sustained trend alignment. A breakout above $195–$200 could open the way to a retest of $230 or higher. Derivatives data supports bullish setup Futures market data reinforces Solana’s technical resilience. Total open interest remains elevated at $10.36 billion, with a long/short ratio of 3.72 on Binance indicating sustained bullish bias among top traders. Liquidations over the past 24 hours totaled $32.54 million, with longs comprising the bulk, suggesting a healthy washout without structural damage. Volume rose 17.65% to $23.22 billion, underlining growing market participation near resistance. Despite the failure to decisively clear the $200 barrier, positioning remains favorable. As long as SOL price holds above the $178–$180 base, the bullish trend is likely to continue. Any close above $195 with strong volume could confirm breakout strength and open the path to the $230–$250 upside zone. As covered in previous sessions, Solana’s long-term uptrend remains supported by breakout structures from the $150 level and consolidation patterns showing higher lows. The current zone near $181 is critical for bulls to maintain control and build momentum for another leg higher. This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer . While we adhere to strict Editorial Integrity , this post may contain references to products from our partners. Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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