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Solana shows early rebound signs with bullish RSI but wallet count drops 5%, clouding price outlook.

Technical Signals
05 Aug 2026
Coinpaper
View Source
Neutral
Solana shows early rebound signs with bullish RSI but wallet count drops 5%, clouding price outlook.

Solana's price shows potential early recovery as a bullish RSI divergence forms near $73 on the weekly chart, indicating weakening selling momentum. However, the number of wallets holding at least 0.1 SOL has dropped by 5% recently, signaling reduced participation from smaller holders and creating uncertainty around the broader price trend. For a stronger rebound, SOL needs to break above the $80-$90 consolidation zone, while support remains near $60-$65. The declining wallet count serves as a cautionary sign rather than a definitive bearish signal, with future price direction depending on wallet participation and price movement.

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