Solana (SOL) moved back above $77 as its decentralized exchanges led all chains with $4.15 billion in daily volume, giving bulls a clearer near-term test.
Key Points:
- Solana reclaimed $77 after spending much of early July near the level.
- Network DEX volume reached $4.15 billion in 24 hours, more than triple BNB Chain's $1.28 billion.
- Analysts view $77 as a key pivot, though sustained liquidity is still needed to confirm a broader reversal.
Solana Support
Media reported reported on Jul. 15 that SOL had reclaimed the $77 area, while pointing to decentralized exchange activity and active wallets as reasons traders remained interested. The report did not provide the underlying wallet figures, so the stronger evidence comes from separate market data published a day earlier.
Data cited by Crypto Briefing showed Solana decentralized exchanges processed $4.15 billion in 24 hours, ranking first among blockchains and exceeding BNB Chain at $1.28 billion. Raydium and Orca accounted for much of the activity, while speculative memecoin trading contributed to the surge.
That turnover matters because it shows users and liquidity stayed active while SOL traded well below its prior cycle highs. It does not, by itself, prove durable demand.
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DEX Outlook
Michaël van de Poppe identified $77 as a key trigger earlier in July, arguing that a confirmed flip into support could create room for a move toward $125 to $130. His forecast depends on SOL holding the level rather than briefly trading above it.
The distinction is important. High DEX volume can strengthen market depth and fee generation, but activity driven by short-lived tokens can fade quickly and leave the price without lasting support.
Traders should therefore watch whether DEX volume remains elevated, whether active addresses stay firm and whether SOL closes consistently above $77.
In early June, the token broke below the broader $75 to $77 support zone, and it traded near $75.82 on Jul. 14 before recovering above $77 the next day. That sequence restores the level as a support test, not a confirmed trend change.
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