SOL Price Prediction What Changes Can We Expect for SOL in July

Coin World reports:
The Solana market has a bearish inclination on the daily timeframe, but may maintain its long-term bullish outlook. The defense of Fib levels, coupled with the pursuit of liquidity, suggests that an upward trend could be initiated again.
Solana [SOL] has fallen by 2.56% over the past seven days. According to CoinMarketCap data, this ranks third best among the top ten market coins (excluding stablecoins). Here, the optimistic belief may be due to hopes for the SOL ETF and its potential after the next U.S. election.
The argument is that SOL has an advantage relative to other parts of the altcoin market, most of which have already lost close to double-digit percentages. In fact, a recent report emphasized that the daily transactions processed by Solana are several times that of the Ethereum network.
Fibonacci Levels Show Resilience
A set of Fibonacci retracement levels (yellow) were drawn based on the rebound from $98.48 to $210.18 in February and March. The 78.6% level has been retested for the fourth time since mid-April and has been defended.
The OBV has been slowly trending south since March, while the daily RSI has remained below the neutral 50 since early June. Together, they underscore that selling pressure and bearish momentum have taken the upper hand.
The DMI also shows a strong downward trend in progress, with both the ADX (yellow) and -DI (red) above the crucial 20 mark.
Spot CVD began to recover in the last week of June, but this progress was lost in the past week’s sell-off. Open interest contracts were also hit. In fact, in the past few hours, OI has shown a slight rebound along with the price—indicating that speculators are somewhat willing to go long, but not fully convinced.
Hours before going to press, short liquidations surged, showing $6.34 million of short positions liquidated at $137. This indicates that the short squeeze was successful in the lower time frames, with the next resistance zone around $140-$143.
Liquidation Data Provides Clues for the Next Major Price Trend
On July 2nd, Solana visited a liquidity cluster at $152, soon after reversing its bullish trajectory. This is an example of how prices can rise against the trend in lower time frames to eliminate liquidity pockets before resuming the original direction.
A significant amount of liquidity has attracted their prices. The next notable ones appear to be $164 and $175.
In the short term, Solana’s price rebound may have lost momentum. In fact, analysis by AMBCrypto shows that the cumulative liq level delta is positive, meaning that the number of long liquidations slightly exceeds that of short liquidations.
Read Solana’s [SOL] Price Prediction 2024-25
Conversely, the short squeeze may come to an end. This idea reinforces the possibility that SOL may retreat south from the $140-$143 range. Overall, SOL may face rejection at $140 to $143 and consolidate around $135 in the coming days.
In the next few weeks, Bitcoin (BTC) breaking through $60,000 could fill the bull market with confidence, pushing prices up to $164 and $175