Solana is trading near $78 after a sharp decline wiped out nearly 10% of its value in 24 hours and pushed the token close to a key support area. The immediate question is simple: can buyers hold the $75 zone.
Recent market action shows that sellers drove the correction, but momentum indicators suggest the decline has started to lose force. That shifts attention away from panic selling and toward stabilization around current levels.
Analysts map out separate rebound scenarios
Felix Pinkston said Solana showed mixed signals near $87 earlier this week, with resistance building around $91. If momentum improves, he sees room for a move into the $95 to $105 range within four weeks.
Tony Kim offered a shorter timeline, pointing to a one-week target between $83 and $85, while also outlining a broader monthly range that could extend back above $100. Both analysts highlighted resistance near the upper Bollinger Band, now sitting just below $90.
RSI and MACD point to consolidation, not capitulation
Technical readings show a market that has paused rather than broken down. Solana’s RSI stands at 37.83, placing it in neutral territory even after the selloff. The token is weak, but not deeply oversold.
The MACD histogram remains flat near zero, a sign that bearish momentum has stopped expanding for now. Bollinger Bands also show price hovering near the lower band around $76, an area that often draws short-term buying interest.
Support at $75.26 and resistance at $91.53 frame the range
Immediate support is marked at $75.26, with stronger support lower at $71.67. If buyers defend those levels, Solana could retest $83, which lines up with the 20-day moving average.
On the upside, resistance starts at $85.19 and becomes heavier near $91.53. A sustained move above $89 would strengthen the case for a broader recovery toward $95 to $105 over the next month.
Volatility stays elevated as traders track moving averages
Solana’s 14-day average true range is $5.29, reflecting potential daily swings of as much as 7%. Even in consolidation, the market remains active. The gap between the current price and the 50-day moving average near $105 also shows how large the recent pullback has been.
The next few sessions are likely to decide whether this pause turns into a rebound or slips back into a broader decline. For now, the market is centered on one area above all others: $75.