Analysts are focusing on $58.80 to $40.60 as the most important price range for Solana in the current setup. Market analyst Minga says Solana is still in a broader corrective phase on the higher timeframe. After finishing its previous upward swing, the asset broke down from a larger distribution structure and is now moving through what he describes as the “C” stage of the correction.
$58.80 to $40.60 stands out on the higher timeframe
Minga continues to track the $58.80 to $40.60 band as a possible spot accumulation area and a candidate for Solana’s macro bottom. He says the zone has not been fully tested yet and remains notable because of a visible market imbalance. Within that range, $40.60 carries added weight since it sits near the lower boundary of a key accumulation box.
In his view, if Solana can keep this region intact as an accumulation area, the longer-term chart may begin building a macro bottom. A strong rebound from the zone would add support to the idea that the broader correction is close to completion. If the market fails to hold $58.80 to $40.60, the deeper pullback scenario stays active, with $21.63 identified as the next major support level.
Daily chart rally has already met four upside targets
On the daily chart, analyst Jesse Olson says Solana posted a sharp recovery from its June lows and managed to break above a descending trendline. Price then moved into the green target box on his chart, and he notes that all four of his upside targets have now been reached.
That puts the current area under close watch. Olson says the next key test is whether Solana can flip this target zone from resistance into support. The issue is no longer just how far the rally has traveled; it is whether buyers can defend the area after the breakout attempt.
Failure to hold this zone could weaken the short-term picture
Analysts note that failed breakouts at resistance often coincide with the end of short-term uptrends. If sellers regain control and reject price from the present target area, Solana could revisit lower support levels. Even after the recent rally, momentum on higher timeframes is still described as relatively weak, which is why this move is not yet being treated as the start of a new primary trend.
The near-term question is simple: can buyers hold the current zone as support. If they do, the rally may stay alive. If they lose it, the technical outlook turns weaker again and price action could remain choppy and uncertain.