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.
Source: https://coinpaper.com/14466/solana-consolidates-below-90-as-long-term-1000-thesis-stays-alive
