Solana Rebounds After Rejection at Demand Zone

• • Strong rejection at the institutional demand zone on the hourly chart, a sign selling pressure is fading.
• • Accumulation sentiment is back, Solana looks like a post-correction reversal candidate.

The selling pressure on SOL through June looks close to spent. Sellers repeatedly failed to push price below the institutional demand zone, and the bounce at $73.84 confirms it. As long as buy orders keep coming in, the nearest target is $76.50. If altcoin sentiment turns with it, $80.00 is the next level up. For traders waiting on a reversal, this area is worth watching for accumulation.

If price can't hold the local demand zone, a chain of liquidations could follow. The bullish case is off below the $69.50 stop loss.