SOL Faces Rejection at $87 as Momentum Turns Bearish Pressure

Solana price action turned weaker this week as selling pressure pushed the token lower, reinforcing uncertainty across the broader market. The price of Solana (SOL) stands at $83.41, marking a daily decline of over 4%. 

Additionally, the asset shows a mild 7-day loss, despite maintaining strong trading volume above $4.3 billion. This movement reflects a market caught between bearish continuation risks and early accumulation signals.

Resistance Rejection Signals Weak Momentum

Analysis from Morecryptoonl highlights a failed push toward the $87.87 resistance zone. Price approached this level but quickly reversed, signaling limited bullish strength. Moreover, the rejection aligns with a Fibonacci retracement cluster between 61.8% and 78.6%, often viewed as a reversal zone.

Consequently, the recent upward move appears corrective rather than impulsive. The absence of a clear five-wave structure suggests weak trend conviction. 

As a result, downside risk remains elevated in the short term. Key support now sits between $78.76 and $81.65, where prior demand zones formed. A breakdown below this region could expose SOL to deeper losses toward $75 or even $72.

Accumulation Structure Keeps Bulls Engaged

However, WebTrend presents a more constructive outlook. The analyst identifies a transition from a downtrend into early accumulation. The sharp drop toward $70 established a strong base, which continues to hold as macro support.

Since then, SOL has printed higher lows, forming a potential double-bottom pattern between $75 and $80. This structure suggests that sellers are losing control. Additionally, the current price range between $80 and $90 reflects compression, often seen before larger moves.

Source: X

Importantly, WebTrend maintains that bullish positions remain valid while $70 holds. A confirmed trend reversal would require a decisive break above $100. Until then, the market remains in a neutral consolidation phase with slight bullish bias.

Long-Term Outlook Hints at Cycle Expansion

Meanwhile, analyst shah focuses on the broader market cycle. The long-term chart shows a peak near $250 followed by an extended correction into the $80–$120 range. This zone now acts as a key accumulation area.

Significantly, repeated higher lows indicate gradual buying interest. This pattern often precedes major expansion phases in crypto cycles. Consequently, speculation about new all-time highs in 2026 aligns with historical trends.

However, confirmation remains critical. SOL must reclaim the $120–$150 region and eventually break above $250. Without these moves, the bullish scenario remains uncertain.