Solana\u2019s (SOL) recent price action has put traders on alert once again. After sliding to multi-month lows near the lower-$80 range, SOL staged a sharp rebound of more than 6% in a short period, briefly easing fears of an immediate breakdown.<\/p>\n
Related Reading: Bitcoin Could See New Drop To $60,000 Despite Bounce \u2013 Here\u2019s The Level To Defend<\/a><\/p>\n However, the recovery has done little to settle the broader debate. Analysts now see Solana caught between fragile support and overhead resistance, with the $98\u2013$108 zone emerging as a key upside test if momentum can hold.<\/p>\n Despite the bounce, market conditions remain cautious. SOL is still trading well below former support levels that have flipped into resistance, and several technical and on-chain indicators suggest the market has not yet found a clear directional bias.<\/p>\n\n Solana is currently consolidating around the $83\u2013$87 area, a zone many analysts view as critical short-term support.<\/p>\n Multiple reports highlight that SOL has lost its prior monthly support between $98 and $100, confirming the broader downtrend remains intact. Price structure continues to show lower highs and lower lows, and SOL is trading below key moving averages, reinforcing bearish control.<\/p>\n At the same time, oversold signals are beginning to appear. The Relative Strength Index on higher timeframes has dipped into levels that historically coincided with stabilization phases.<\/p>\n Some analysts also point to the Money Flow Index<\/a> nearing extreme readings, suggesting selling pressure may be losing intensity, even if buyers have yet to step in decisively.<\/p>\n If the $85 area fails, downside targets cluster around $78\u2013$80, with deeper support cited near $70. These levels align with historical demand zones observed during previous drawdowns.<\/p>\n On-chain data has added another layer of complexity. More than 1 million SOL reportedly left centralized exchanges over a 72-hour period, a move analysts interpret as stress-driven repositioning rather than clear accumulation.<\/p>\nSupport Holds, but SOL Trend Remains Weak<\/strong><\/h2>\n
Solana ETF Outflows and On-Chain Signals Add Pressure<\/strong><\/h2>\n