Solana Consolidates Below $90 as Long-Term $1000 Thesis Stays Alive

Solana’s price continues to draw attention as traders assess whether recent selling pressure has finally reached exhaustion. After weeks of sharp downside movement, SOL now trades near critical demand, where short-term stability has started to emerge. Market participants remain cautious. However, several analysts argue that the current structure offers early clues about the next directional move.

Short-Term Range Signals Market Balance

On lower timeframes, Satoshi Flipper points to a clear consolidation range forming on the 30-minute chart. SOL currently oscillates between $84 as support and $89 as resistance.

This narrow band reflects a temporary balance between buyers and sellers. Volatility has compressed. Consequently, traders now wait for a decisive breakout to confirm direction.

Besides the range structure, BitGuru highlights that Solana is stabilizing near a major demand zone. The prior downtrend showed consistent lower highs and lower lows from the $120–$125 region.

Selling pressure slowed once price reached the $78–$80 area. Buyers stepped in at that level. Hence, this zone now acts as an important short-term floor.

Source: X

A sustained hold above $78 keeps the rebound narrative intact. Additionally, a clean move above $90 could trigger momentum toward $97–$100. That region marks the earlier breakdown zone. Significantly, a breakout above the local range would confirm short-term upside continuation.

Higher-Timeframe Structure Still Matters

Crypto Patel focuses on the broader structure that unfolded over recent weeks. Solana broke monthly support near $98–$100. That move opened the door for a deeper decline. Price eventually slid into the $50–$70 demand zone. The selloff stalled near $67. Buyers responded aggressively at that level.

Moreover, this accumulation zone aligns with key Fibonacci retracement levels and prior consolidation areas. That confluence strengthens its technical relevance. As long as $50 holds on deeper pullbacks, downside risk remains limited. However, traders still need confirmation before calling a trend reversal.

A reclaim of $98–$110 would signal meaningful recovery. Consequently, such a move could open paths toward $170 and $270. From a long-term perspective, Crypto Patel maintains that the broader structure still supports an eventual expansion toward $500 and even $1000.

Market Data Reflects Ongoing Pressure

Despite these technical arguments, Solana remains under near-term pressure. SOL trades near $82.59 as of press time. The token dropped 5.81% over the last 24 hours. 

Additionally, it declined 16.44% over the past week. Trading volume reached $3.67 billion. Market capitalization stands near $46.88 billion with 570 million SOL circulating.