Solana Price Hinges on Breaking Above $78.35

The Solana (SOL) price is currently coiled at $77.00, with momentum dead-flat and open interest bleeding out.

According to Zach Anderson, if SOL breaks above $78.35 with conviction, it could lead to a swift flush to $75.13. However, if the price fails to break through this level, it may indicate a bearish trend.

The short-term moving average stack is clustered between $74.90 and $76.32, indicating a legitimate floor being built. Nevertheless, SOL is still structurally below its long-term trend line, which could impact the rally's sustainability.