Solana has switched to a buy signal on the Supertrend indicator on a three-day chart, boosting expectations of a medium-term rebound.

Decrypto, a blockchain media outlet, reported on July 11 that the signal marks the first bullish turn since October last year. The market is watching whether Solana can break through the $79 to $85 resistance zone.

The key now is not the trend-reversal signal itself, but whether it can lead to an actual price breakout. Solana moved above $78 on June 30, flipping the Supertrend indicator to a buy. It has since risen 16 percent to $83.98.

On-chain indicators also support an improved short-term mood. From June 24 to July 3, investors withdrew about 1.5 million SOL, worth about $120 million, from cryptocurrency exchanges. That means more tokens were moved into self-custody rather than left on exchanges, which is seen as a signal that could reduce short-term selling pressure. Over the same period, new addresses on the Solana network increased by about 1.6 million over the past three weeks. With user participation and network activity rising together, technical signals and on-chain flows are pointing in the same direction.

Still, the upside scenario does not open immediately. The biggest obstacle is the $79 to $85 zone. UTXO realised price distribution data show about 105 million SOL traded in that range. That suggests a dense supply zone where holders who have reached breakeven may be likely to sell.

If it fails to reclaim that zone, selling pressure could rise again. If it slips below $74 in particular, the current bullish setup could be shaken. In that case, the likelihood of a deeper correction increases, and the next key support level based on the UTXO realised price distribution was presented as around $53.

In the end, the near-term focus is clear. Exchange outflows, an increase in new addresses and a technical buy signal all point to improved momentum. But to confirm a real trend reversal, Solana must break through the $79 to $85 supply zone, and hold the $74 level on the downside. The outlet said Solana's next direction is likely to be determined in those two price ranges.