Solana's Price Hinge: Breaking Nine Months of Negative Returns

Solana's price is hovering around $73 after a recent bounce. Despite a slight increase of 1% in the past day, trading volume has dropped by 7%, raising concerns about the asset's fragile structure. The market is currently in a consolidation phase, with no extreme momentum in either direction.

The chart has not printed a green monthly candle since September 2025, marking nine straight months of negative returns for Solana. To break this streak, the price needs to stay above $73.50 for the next three days. Currently, it is trading just $0.46 above this critical support level.

A key support zone has formed around $73.75, with over 50 million SOL accumulated in this area. If Solana holds onto this range and breaks out of the falling wedge setup, it could open the path for prices to rise above $80 and potentially reach $88.91. However, if the price drops below $73.75, fresh selling pressure would kick in, targeting a potential low of $60.