Will Solana Hold $70? Toss Bank MOU, Whales Bet $24M on SOL

Solana is trading at $71.03 on June 23, 2026. The daily candle opened at $71.94, reached a high of $72.05, and slipped 1.31% by close. Volume on KuCoin came in at 21.95K. The pair on the chart is SOL/USDT on the daily timeframe. Price action has been grinding sideways to slightly higher since the $60 low in early June. But the bears are not giving up easily. What Does the Solana Daily Chart Show Right Now? The LuxAlgo Smart Money Concepts overlay on the daily chart has printed several important signals since January 2026. Back in February, the price broke a CHoCH (Change of Character) near $130. That confirmed the shift from an uptrend to a downtrend. SOL dropped from the $147 area all the way down toward $63 by early June. A BOS (Break of Structure) label also appears around the $76 level, confirming the bearish breakdown from the prior range. That $76.65 level is now the first wall buyers have to clear. The chart also shows an EQH (Equal Highs) pattern that formed during March and April near the $85 zone. Equal highs often act as a magnet for price before a sharp reversal. SOL tested that area in May 2026, failed, and fell hard. Currently, SOL is forming a rising wedge pattern between roughly $60 and $72. Rising wedges in a downtrend usually break to the downside. The lower trendline acts as the last support before $60 gets retested. Key levels to watch: Immediate resistance: $76.65 (blue horizontal line) Supply zone: $85 to $88 (previous CHoCH area) Major resistance: $97.69 (prior BOS level from early 2026) Key support: $60 (wedge base and June low) Next support if $60 fails: $55 What Are SOL Derivatives Saying About the Next Move? The derivatives panel shows a complex picture. Here are the numbers: 24h Volume: $8.69B (+5.48%) Open Interest: $5.16B (-2.39%) Options Volume: $15.84M (+25.43%) Options Open Interest: $99.17M (+3.43%) Volume is rising, but open interest is falling. That usually means traders are closing out positions, not piling into new bets. Options volume jumping over 25% in a day shows hedging activity is picking up. The overall Long/Short Ratio (24h) is 0.9486, meaning more accounts are short than long right now. However, bigger traders tell a different story. Binance Long/Short Ratio for all accounts sits at 2.8388. For top trader accounts, it is 3.0323, and top trader positions show 1.4936. OKX accounts show 2.28. The smart money is leaning long even while retail leans short. How Much Money Got Liquidated on SOL in the Last 24 Hours? The liquidation data is where the real story is. Longs have been getting destroyed at every bounce attempt.