Solana's short-term moving averages are converging near $75 to $76, setting up a potential "mini golden cross" that hasn't formed since 2025. A break above resistance near $78 to $80 could open a path toward the $89 long-term average, though the broader trend for SOL remains bearish.
Solana trades at about $77 as its short-term moving averages close in on each other, with the faster green line near $75.46 and the blue line close to $76.32. Their gap has narrowed sharply since SOL bottomed near $60 in June, and a bullish crossover here would be the first for these averages since 2025.
A base forming since July
Instead of retesting the June lows, SOL has held a range of roughly $70 to $75 since July, giving the setup more weight than an isolated bounce. The daily RSI has climbed to about 57, above the neutral 50 level but short of overbought territory, leaving room for further gains if buyers push through resistance.
Derivatives traders lean bullish
Binance's SOL/USDT long/short ratio stands at roughly 2.10, against about 2.02 on OKX, showing traders tilted toward longs on both exchanges. Binance's top traders show an even higher ratio of about 2.38, reinforcing the bullish skew. Heavy long positioning, however, also raises the risk of sharp liquidations if the market reverses.
Resistance near $78 could decide the setup
The first major hurdle sits just above the market at $78.07, where SOL meets an intermediate moving average. A break and hold above $78 to $80 would strengthen the mini golden cross setup and could open the way toward the $89 long-term average, which is still falling.
Even so, SOL remains about 38% lower so far this year, and the long-term average near $89 continues to slide. If the crossover fails and SOL loses $75, the focus would return to $70 and possibly $65. For now, the developing mini golden cross reads as an early recovery signal rather than a new bull trend.
Source: U.Today
Trading involves risk.
Risk Disclaimer
