Solana has recently experienced an upward trajectory, signaling possible signs of recovery after enduring prolonged selling pressure. The latest developments in the market indicate that SOL has regained its footing within a pivotal zone, having overcome several resistance thresholds. Despite this progress, experts remain split on whether this recent growth represents a sustainable turnaround or just a brief uptick.
Key Support Region Paves the Way
Solana is attempting to rebuild its momentum after bouncing back from a significant pivot zone. According to market commentator BitGuru, SOL experienced sideways trading before sharply dropping, ultimately falling by about 81.66%. This decline brought prices down to the $60-$62 bracket, which attracted renewed buying interest and sparked bullish activity. The lack of new lows and a potential bottom suggest diminishing selling activity, signaling a shift toward accumulation.
The recovery’s traction has been characterized by SOL breaching major resistance points and establishing higher lows. Holding above the previous resistance turned support of $67-$68 and staying within the $73-$75 band implies support in the short term is firm.
Is $80 Within Reach?
BitGuru notes that maintaining current momentum could propel SOL toward the $80-$82 resistance region—a previous consolidation zone before a larger drop. Breaking past $82.67 would signify a considerable reduction in selling pressure, boosting investor confidence.
- $60-$62: Major support area attracting buyers.
- $67-$68: Critical level now serving as support.
- $73-$75: Current short-term resistance band.
- $80-$82: Next potential resistance zone.
- $82.67: Key target for confirming recovery.
Will Resistance Impact Short-term Gains?
However, market analyst Ali highlights emerging warning signals. After a TD Sequential indicator pegged a buy signal, SOL rose by 8.40% to reach $74.27. Ali points to possible technical resistance in the $74-$75 range, where a TD Sequential sell signal and downward-sloping 200-period simple moving average are evident on the four-hour chart.
If sellers reassert themselves, SOL could revisit the $71 and $68 support levels, expressing concern over potential short-term pullbacks. A sustained presence above $67-$68 and overcoming the $75 resistance are pivotal to its trajectory.
