Solana's Streak on the Line as Critical Support Test Looms

Solana's (SOL) price is currently hovering around $73, up by 1% from yesterday. However, its trading volume has taken a hit, dropping 7% to $1.85 billion.

The market is in a consolidation phase, and Solana is facing a critical support test. If it fails to stay above the $73.50 mark for the next three days, it will extend its streak of nine consecutive months with negative returns.

A significant accumulation zone around $73.75 makes this level crucial, as more than 50 million SOL are concentrated here. Holding onto this support and breaking out of a falling wedge setup could give bulls an opportunity to push the price above $80 and potentially target $88.91.

However, if Solana fails to hold this key level and falls below it, fresh selling pressure will kick in, with a potential target of $60 and further support between there and $50.