Key Notes
- Solana price consolidated above $185 on Sunday July 27, down 0.5% intraday, lagging behind rivals BNB, ETH and XRP, each posting 2% gains.
- Solana’s sideways price movements coincides with Open Interest stagnating at $10.7 billion over the last 24 hours while trading volumes decline 32%.
- Mert Mumtaz founder of Solana’s infrastructure platform Helius confirmed all-time high Solana transactions amid ongoing blockspace optimization updates.
Solana (SOL) closed at $186.69 on Sunday, July 27, up 1% intraday, but still trailing other top altcoins, such as Binance Coin (BNB), Ethereum (ETH), and XRP, which each gained over 2%. Despite SOL’s relative underperformance, trident bullish on-chain and market indicators could spark a bullish trend reversal in the coming week.
3 Bullish Indicators Emerge as Solana’s Weekend Price Performance Lags Behind Rivals
First, open interest in Solana derivatives has remained flat at $10.7 billion over the last 24 hours. Open interest measures the total number of outstanding contracts in the futures and options market. When the price consolidates while open interest remains steady, it often reflects a period of indecision in anticipation of a shift in market trend.
Solana Derivatives Trading Data | Source: Coinglass, July 27, 2025
In Solana’s case, this stagnation, especially amid declining price momentum, suggests that leverage traders may be positioning for a breakout, following a 10% price retracement last week.
Second, Solana’s trading volume has dropped significantly, declining 32% over the weekend according to Coinglass data. Falling derivatives volume during a period of price consolidation is often interpreted as a sign of speculative trading activity cooling off, while spot buyers step in to absorb available supply.
with blockspace increasing 20% a few days ago
Solana has already hit an ATH in weekly number of transactions as well as sustained average TPS
oh yeah and we’re already working on doubling capacity again pic.twitter.com/3b14WVMCjP
— mert | helius.dev (@0xMert_) July 25, 2025
The compelling bullish signal comes from Solana’s on-chain performance. On July 22, Solana reached an all-time high in daily transactions, processing over 125.9 million in a single day and sustaining a daily average of 120 million transactions over the five days since, according to Blockworks’ analytics data.
According to Mert Mumtaz, founder of infrastructure platform Helius, this surge is linked to a recent 20% increase in blockspace efficiency, which has boosted Solana’s transaction throughput and overall scalability. Mumtaz also confirmed that the Solana developer ecosystem is already working on another upgrade to double this capacity again, signaling further network growth and mitigating the risks of incessant outages that have often plagued Solana during periods of peak market activity.
Taken together, these three indicators, rising network throughput, flat open interest, and declining speculative volume, present a cohesive narrative that Solana could be on the verge of a major bull cycle in the week ahead.
Solana price forecast: Will SOL Advance to $210 in the week ahead?
In terms of a short-term price forecast, Solana is currently navigating a tight consolidation zone between support at $176 and resistance at $196. The 10% retracement from its recent high now appears to have stabilized over the weekend, with technical indicators such as Bull Bear Power showing rising green bars again over the past 48 hours.
Solana price forecast | SOLUSD 24H Chart | TradingView
A breakout above the $196 level would likely invalidate the current short-term downtrend and open the door for a move toward the $210 mark. However, a daily close below $176 could trigger a deeper correction, with the mid-Keltner channel indicator indicating the next major support cluster around $165.
Best Wallet Presale Draws Attention as Solana Traders Weigh Next Move
While Solana’s current price trend remains indecisive, Best Wallet is gaining attention as one of the most promising presales of the year. With over $14.25 million already raised, the $BEST token presale is capturing the attention of investors.
Best Wallet Presale
The ongoing presale offers access to exclusive project launches, reduced transaction fees, boosted staking rewards, and governance rights over the platform’s evolution. For those looking to capitalize on early-stage ecosystem tools, the Best Wallet presale is now live. Visit the official Best Wallet website to join before Solana’s next bullish price breakout.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
