Solana tests $81.20 support, risk grows for fall to $71.92

Solana is currently testing a significant monthly and short-term support level, raising concerns among investors about the sustainability of its recent price action. Analysts warn that if SOL’s price slips below $81.20, the next stop could be the $71.92 to $77.96 support range. If, however, Solana manages to defend this area, the existing channel structure may still hold.

Critical lower bound in the monthly chart

Charts shared by the crypto analyst Bitcoinsensus show that Solana is still trading within a descending channel on the monthly timeframe. Recent attempts at a recovery have failed, pushing SOL down toward the channel’s lower band.

This region also marks the lowest edge of Solana’s current monthly price range. Should SOL hold here, there is still the possibility for a rebound toward the middle or upper sections of the channel. With today’s price movements, whether buyers succeed in defending this boundary will be decisive.

The chart also highlights a rounded bottom pattern formed between 2022 and 2024. While SOL rallied close to previous peaks after this formation, the latest downturn has returned the cryptocurrency to a more precarious position.

The upper channel line is now seen as the main resistance zone. If the price aims for this level once again, signs of recovery could strengthen. The risk, however, lies in a loss of the current lower channel bound.

Analysts emphasize that if SOL’s price remains below the lower border of the current channel, technicals could weaken further, and buyers may lose control, pushing the price down to the next support range.

For the moment, technical indicators suggest Solana is at a crossroads. The next movement will show whether sellers or buyers take the upper hand.

Short-term focus: The $81.20 line on the 4-hour chart

In the short run, Solana’s 4-hour chart looks fragile, too. An analyst from MCO Global notes that if the price closes below the key $81.20 support, the next likely target is the $71.92 to $77.96 region.

The latest chart shows that after a recent upward attempt, SOL has again slipped into the channel’s lower short-term zone. The $81.20 mark now stands out both as a technical inflection point and a psychological threshold.

Technically, a drop below this area increases the likelihood of intensified bearish pressure. If SOL closes beneath this level, selling momentum could accelerate and drag the price swiftly toward the next support band.

On the flip side, if Solana manages to hold above $81.20, the risks of further downward movement could be postponed for now, and SOL may continue sideways for some time.

Glossary: A descending channel is a technical pattern where the price forms progressively lower highs and lows between two parallel lines. It is often viewed as a sign of weakness; a breakout from the channel may signal the start of a new trend.