Is Solana (SOL) Ready for a Big Recovery After 8.5% Gain?

Updated

June 11, 2025

Gambar Is Solana (SOL) Ready for a Big Recovery After 8.5% Gain?

Jakarta, Pintu News – Solana has recently experienced a rise that has caught the attention of many market participants. After retesting support at $143, the cryptocurrency managed to rally by 8.5% in three days. But is this the start of a major recovery or just a temporary bounce?

The Impact of Token Inflow to Binance

Last week, there was a significant inflow of Solana tokens (SOL) to the Binance exchange, reaching 2.8 million SOL. This resulted in a price drop from $155 to $143, indicating an increase in supply in the market. Although the funding rate was negative, the situation changed on June 8 with the funding rate turning positive. However, the bearish momentum that has persisted over the past three weeks is still very much present, suggesting that the market may not be ready for a major rally.

Despite short-term price increases, low trading volumes indicate uncertainty in the market. The 20-day volume moving average shows a decline over the past two weeks, indicating that selling pressure still dominates. To see significant price movement towards $178 or higher, an increase in volume is required which has not been seen to date.

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Technical Analysis on Daily and 4-Hour Charts

On the daily chart, Solana’s (SOL) market structure has remained bearish since mid-May. The support at $143, which was previously successfully turned into support in April, was tested again. Despite an 8.5% increase, the Money Flow Index (MFI) indicator shows that momentum is still bearish and selling pressure is still more dominant.

Turning to the 4-hour chart, the downward trend in On-Balance Volume (OBV) is still evident. Although there are indications that the downtrend might break, this has not happened yet. A move past the local high that occurred earlier in June on the OBV could be the first sign of buyers’ dominance. However, the market structure on the 4-hour chart is still bearish.

Potential Future Price Movement of Solana (SOL)

During the downtrend from $178 to $143, a lower high was formed at $162 in early June. If Solana (SOL) prices can cross this level, it could encourage swing traders to go long, using the change in market structure as reinforcement for their bias.

However, keep in mind that this move should still be supported by increased volume and changes in the OBV indicator. Despite signs of buying pressure and short-term bullish momentum, investors and traders should remain cautious. The market is still not showing signs of a strong and sustainable recovery. Therefore, it is important to monitor key indicators and trading volumes before making any major investment decisions.

Conclusion

In watching the price movement of Solana (SOL), it is important to pay attention to various indicators and overall market conditions. While there is potential for recovery, factors such as trading volume and lingering bearish momentum need to be key considerations. Investors and traders should use this information to make informed decisions and avoid unnecessary risks.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.