Solana's spot volume has entered a heating phase for the first time in approximately six months, marking a shift in market activity as the price of SOL falls.
According to volume analysis, about half a dozen red bubbles—indicating heating volume—printed as SOL dropped from roughly $112 to $103. This follows an extended period of cooling volume that dominated the market from December through early June, during which SOL declined from about $150 to the low $80s without significant trading activity.
Volume Patterns and Price Movement
The heating readings differ from the earlier decline pattern. From December through June, cooling volume dominated as price drifted lower without activity spikes. The June low near $62 produced neutral bubbles rather than a volume climax, and neutral conditions persisted through the recovery to roughly $120 in early October.
A bubble map of daily spot volume measures each day's volume against its own baseline. Heating indicates volume running above that baseline, though the coloring does not show price direction. The current heating state coinciding with falling prices suggests active selling rather than gradual price drift.
The $100 Level
The $100 price level has emerged as a critical threshold for Solana's near-term direction. If bubbles return to neutral or cooling conditions while price holds near $100, it would suggest selling momentum is fading and the move is a pullback. Conversely, if heating volume persists and SOL breaks below $100, volume would confirm a broader decline.
