Solana Traders Eye Rebound as Token Tests Key Support
Solana's recent price action has been closely watched by traders and analysts alike as it trades near a pivotal technical area. The token has extended its downward move toward the $67 support zone, but despite maintaining a bearish short-term outlook, some are speculating that Solana may be forming a long-term bottom.
The three-day SOL/USDT chart shows consolidation near the lower edge of the projected 2026 trading range. Analysts note that this decline from highs around $240 has stalled well below a significant resistance band between $95 and $100, which now serves as the primary level that bullish traders need to reclaim for a possible recovery.
Solana's movement shows comparative patterns to its previous cycle bottom, but price must decisively reclaim the $95-to-$100 resistance for the structure to confirm an established bottom. A similar configuration could be emerging, with Solana trading beneath a horizontal resistance for several months before breaking out past this threshold.
The relative strength index (RSI) has recently produced a higher low, despite Solana printing new price lows. This divergence suggests that sellers are losing strength and a reversal may be approaching.