Log in

Market Direction

SOL isn't slowing down: Will it shatter $50 and soar to $80?

Updated: Jul 25, 2024
Published: Nov 10, 2023
0
Share:

We are all witnessing SOL’s relentless ascent and are in awe of its remarkable rally. The question on everyone's mind: can SOL break through the formidable resistance zone between $48 and $50, opening the door to the significant $80 mark? Right now, it's hard to bet against SOL. 

Post Feature Image

TLDR

  • Solana (SOL) eyes a break above the $48 to $50 resistance level.
  • Overbought RSI signals caution as SOL continues its upward march.
  • High leverage and strong long bias in market mechanics raise concerns.
  • We advise long-term SOL investors to stay put and consider increasing exposure at lower levels.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results. “One Glance” by Cryptonary sometimes uses the RR trading tool to help you quickly understand our analysis. They are not signals, and they are not financial advice.

Technical analysis

The monster continues and looks primed to potentially break above the $48 to $50 resistance area. If SOL can break higher, there is relatively clear headway for SOL to push up to $80, although there’s a local resistance at $58. 

The next supports to the downside are at $42.50 and then $38. 

The RSI’s on the daily, 3D timeframes are as overbought as they’ve ever been. There will need to be a pullback at some point. However, the key is identifying the level from which SOL eventually decides to pull back. The weekly RSI is also now well into overbought territory. 

SOL 1D
aligncenter size-full wp-image-290254

Market mechanics

The funding rate for SOL has moved higher to being very positive again, indicating a strong bias to be long. Now, longs are willing to pay a substantial premium to be long. However, the open interest has actually come down over the past few days. However,  it does remain at a high level - the highest it's been since August 2022. This suggests that the leverage market is well overheated here, and it’s once again heavily sided towards longs - usually resulting in some form of flush-out if price can decline enough to trigger long liquidations. 

aligncenter size-full wp-image-290253

Cryptonary’s take

Even though SOL can continue to move higher, we are more cautious now than we have been recently due to the magnitude of the move up and the overheated derivatives market.

We love SOL long-term, and if you’re in from a low-cost entry, we won’t encourage selling your SOL, as we also look to ride it for the bull market. We would look to increase exposure under $42.50 and become more aggressive in DCA buys sub $38 if SOL moves lower in the coming weeks/months. 

We would suggest not aggressively trading SOL simply due to the amount of volatility and its capability of chopping traders up in the volatility. 

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC $100k Target Hit, SFP Confirmed
PRO
Market Direction
BTC $100k Target Hit, SFP ConfirmedUpdate on our Nov 3rd/7th forecast: BTC moved exactly to our $100k-$102k target zone as predicted. W...
13 min read
Nov 10, 2025
Market Direction: At $100k - Your 7-Day Action Plan
PRO
Market Direction
Market Direction: At $100k - Your 7...Markets hit major support zones with BTC at the $100k level. Key altcoins face rejection; reversal o...
11 min read
Nov 7, 2025
Privacy Coins Lead the Way: Bullish Setups and Key Levels to Watch
PRO
Market Direction
Privacy Coins Lead the Way: Bullish...Privacy sector coins show bullish setups and key levels as they outperform during this crypto correc...
9 min read
Nov 4, 2025