Solana price hovers around $71 as bullish divergence meets supply‑driven downside

Solana (SOL) traded at about $71, up roughly 5.8% in the last 24 hours, while technical charts show a pronounced bullish divergence that some analysts interpret as a sign that downside momentum may be weakening. The token remains caught between a resistance zone near $75‑$80 and a support level around $61, leading most commentators to expect a short‑term consolidation rather than a decisive rebound.

Fundamentally, Solana’s circulating supply has risen to about 580 million tokens – a 70 % increase from the 340 million tokens present at its November 2021 peak of $260. With the current price, the market cap sits near $41 billion, far short of the roughly $150 billion needed to regain the $260 level. Recent data show a $3.8 million net outflow from Solana‑focused ETFs and an $8 million direct offering by its Nasdaq‑listed parent, HSDT, aimed at buying more SOL and funding operations. Analysts therefore project the token will likely trade in a $60‑$100 range for the foreseeable future, with a break below $60 risking a slide toward $40‑$50 and a rise above $100 requiring a major new catalyst.