- Solana broke a two-year rising trendline after multiple defenses failed on the daily chart.
- SOL remains below $100, shifting market focus toward $70 and $50 support zones.
- A weekly close above $100 and the broken trendline is needed to reset the structure.
Solana has broken below a long-term price trend that had remained intact for nearly two years. Market data shows the asset falling through a key support line that traders had previously defended multiple times.
The move has shifted attention toward lower price levels as volatility remains elevated across digital asset markets.
Solana Breaks Below Two-Year Uptrend
Solana’s price recently moved below a rising trendline that began forming over two years ago. This trendline had acted as technical support during several market pullbacks. The latest breakdown marked the first sustained move below that level.
Technical charts show repeated defenses of the trendline in prior months. Each bounce had reinforced the structure until the recent breach. The failure suggests a change in longer-term price behavior.
Analysts note that trendline breaks often trigger reassessments of market structure. In this case, the move followed a series of lower highs. The combination added pressure to the downside.
Supply Pressure Caps Rallies Near $200 to $280
Market data shows heavy selling activity between the $200 and $280 range. Solana attempted multiple rallies into this zone but failed to sustain gains. Each rejection added to overhead supply.
These repeated failures contributed to a broader lower-high pattern. Lower highs often indicate weakening demand during recovery attempts. This structure has remained visible since Solana’s peak.
As selling pressure increased, price acceleration followed the trendline break. Traders now monitor whether supply continues to cap rebounds. Current data shows limited follow-through on upward moves.
Key Levels Shift Focus to $100, $70, and $50
Solana now trades below the $100 level, which has become a key reference point. Market participants view prices below this area as corrective rather than trend-forming. Rallies under this level are often treated as short-term moves.
Attention has shifted toward the $70 area as a near-term support zone. This level previously attracted buyers during earlier market cycles. A sustained break below could open the path toward lower prices.
Some analysts also reference $50 as a longer-term support if risk-off conditions persist. These levels remain technical reference points rather than forecasts. Price action will determine future direction.
Conditions Needed for a Bullish Structure Reset
Market analysts note that a bullish reset would require clear technical signals. A weekly close back above $100 is often cited as a first step. Reclaiming the broken trendline would also be necessary.
Without these confirmations, the broader structure remains tilted downward. Choppy trading and short-lived rebounds are expected during consolidation phases. Such conditions are common after major trend breaks.
Traders continue to monitor volume and weekly closes for confirmation. Until structural levels are recovered, downside risks remain present. Market structure remains the primary focus rather than short-term price swings.
Source: https://www.livebitcoinnews.com/major-solana-breakdown-signals-shift-in-market-structure/
