Technical analysis by BeInCrypto about Symbol SOL on 8/7/2025

Solana (SOL) is showing signs of renewed bullish strength on the one-day chart, with momentum gradually shifting in favor of the bulls. A key indicator confirming this sentiment is the Balance of Power (BoP), which currently reads 0.57 – a positive figure suggesting that buyers are dominating price action. The BoP, which ranges between -1 and +1, helps traders gauge the tug-of-war between buyers and sellers during a trading session. SOL’s positive BoP reading implies that price is consistently closing near the upper end of its daily range, a classic signal that buyers are asserting control. With bulls regaining momentum and SOL continuing its upward trend, this recovery phase could evolve into a stronger rally if market conditions hold. Traders may want to monitor price action closely for confirmation of a sustained breakout.