Solana’s SOL token rebounded from a long-term trendline and briefly reclaimed a key horizontal level as broader crypto markets stabilized. While several analysts see room for a near-term retest of resistance, others warn that a failure to hold recently recovered support could open the door to fresh lows. As of publication, SOL trades around $84.17, down roughly 2.5% on the week.
Price Action: Recovery Above $80, Eyes on $88
After sliding during last week’s market-wide sell-off, Solana jumped 10.3% on Friday, pushing above $85 for the first time in three days. Over the past week, SOL has oscillated between $78 and $88, with a brief wick to $67 during Thursday’s correction. Friday’s rebound recaptured the mid-range area near $80, a level market participants consider pivotal.
Trader Daan Crypto Trades noted that $80 has acted as both resistance and support historically, arguing that holding this zone and establishing a base would be constructive for a bullish low-timeframe structure. Analyst Ali Martinez added that sustained buying could propel a retest of $88, which has capped price since early in the week. A break above $88 could open a move toward the $90–$96 region, an area defined by prior lows from April 2025.
Trendline Retest and Longer-Term Technicals
Analyst Crypto Batman highlighted that SOL is retesting a two-year descending trendline on the weekly chart near recent lows. According to the analyst, this macro trendline has been respected since early 2024 and has coincided with several significant reversals, including a key retest in Q2 2025 that preceded a subsequent rally.
At the same time, some longer-term signals remain mixed. Altcoin Sherpa pointed out that SOL lost its 200-week exponential moving average (EMA) around $121 and fell through the April 2025 lows, placing greater importance on the local range floor. If the $77–$78 area fails, the next substantial historical support sits near the November 2023 breakout zone around $51, the analyst said.
Bearish Scenarios Remain in Play
While the rebound has improved short-term momentum, several commentators caution that the bottom may not be in. Altcoin Sherpa warned of potential downside toward $50 if SOL loses the $77–$78 band. Market watcher Crypto Bullet argued that the market remains in a markdown phase following a distribution period through 2024 into early 2026, suggesting a deeper low could still emerge. Based on that cycle view, the analyst’s chart outlines a possible bottom near $40.
Key Levels to Watch
- Support: $80 (reclaimed), $77–$78 (local range lows), $51 (Nov. 2023 breakout area)
- Resistance: $88 (near-term cap), $90–$96 (prior cluster from April 2025)
- Long-term indicator: 200-week EMA near $121 (lost)
- Trendline: Two-year descending line on weekly timeframe near recent lows
Solana is a high-throughput layer-1 blockchain designed for low-cost transactions and decentralized applications. Price action around the $80 support and the $88 resistance is likely to define the next directional move, with traders watching for confirmation via momentum and volume.