Solana holds $82 as volume tops $2.1 billion

Solana is trading at $82.32, maintaining its position just above a critical support level closely watched by investors. In recent days, its price has fluctuated within a narrow band between $80.62 and $87.55. Daily trading volume has surpassed $2.1 billion, marking a 1.47% increase in the past 24 hours despite a 5.31% decrease over the past week. The $79-80 range remains a focal point for market participants, signaling heightened attention at these price levels.

Key support and long-term structure

Cryptocurrency analyst Scient emphasizes that the $79-80 zone represents the main floor for Solana in 2024. According to his analysis, the $210 level stands out as a significant resistance point for upside moves. This resistance has been tested three times since 2021, failing each time, with the most recent reversal occurring in September 2025, which triggered a sharp decline in price.

“This structure points to a prolonged accumulation phase across a wide price range, with renewed buying interest near past lows. Ethereum, for example, established a bottom near $80 in its own market cycle. If a similar scenario unfolds, Solana could attempt an upward breakout in coming periods. However, if the $79-80 range fails to hold, a pullback to the mid-$20s could be on the horizon.”

Scient draws a comparison with Ethereum’s historical bear market movements, suggesting Solana now sits at a similarly critical support juncture.

Mini glossary: Point of Control (POC) refers to the price level with the highest volume of trades. In technical analysis, it is regarded as a crucial support or resistance area.

Trend shift on daily chart and impact of volume

On the daily chart, Scient’s evaluation suggests that Solana has broken above its main downtrend line and recently tested this breakout level for a second time. The swift reaction in price at this point indicates increasing confidence among buyers in the market.

Volume distribution further supports the idea that current price levels are forming a key base. With little resistance detected up to $120, the structure of the monthly chart and existing trading volume suggest that any declines may remain limited within this zone.

Mixed signals from technical indicators

Some analysts are adopting a more cautious stance. Analyst Umair Orakzai notes that Solana has dipped below both its 100-day moving average and the volume-based Point of Control. He points out that as long as the price stays above $80, strength indicators remain under pressure.

As of May 29, 2026, CoinCodex data reveals that 29 technical indicators are showing bearish patterns, while only 3 are signaling bullish momentum. The Relative Strength Index (RSI) stands at 39.07, suggesting a neutral market position. Moreover, projections indicate the 200-day moving average could fall to $99.50 by the end of June, while the 50-day moving average could drop to $92.16.

While the majority of technical indicators currently point to a negative outlook, market observers are watching closely to see if the price can hold firm at this critical threshold.