Solana’s SOL: Bullish Short Squeeze Meets Critical MA Resistance

Published: 2025-06-20 09:39:29 |

Solana (SOL) is experiencing a bullish short squeeze backed by heavy retail longs—74.8% on Binance—and smart-money sentiment at 1.79 on Market Prophit. The 90-day Futures Taker CVD signals dominant buying pressure, while SOL/USDT funding rates remain a modest 0.001%, suggesting sustainable momentum. As of June 20, shorts liquidated $192K versus $1.21M in longs, reinforcing upside potential. Technically, SOL trades around $145 within a $140–$152 range and must reclaim the 20-SMA Bollinger mid-band at $152.01 for a decisive breakout. Meanwhile, SOL has stalled below its 2021 high near $27 and faces critical support at $120–$141, with weekly rejection at the 50-week MA and a looming 100-week MA test. A breakdown below $120 could target sub-$100, while a move above the daily 200-day MA is needed for a sustained rally. On the fundamentals front, layer-2 token SOLX raised over $54 million in presale and spot ETFs remain pending. Traders should set tight risk controls around these support and resistance zones and prepare for both breakout and breakdown scenarios.

Neutral

While SOL’s technical indicators—short squeezes, strong CVD buying, modest funding rates—and SOLX’s $54 million presale point to bullish momentum, failure to surpass key resistances (20-SMA at $152.01, 50-week MA, daily 200-day MA) and looming support tests at $120–$141 introduce significant downside risk. This mixed outlook suggests a balanced market view in which traders must monitor both breakout and breakdown scenarios.