Solana is attempting to halt its record run of 10 consecutive monthly losses, with the cryptocurrency pressing against a descending trendline near $74.40. A confirmed move above this level could trigger a push toward $77.40 and $79, while losing nearby support would keep the broader bearish trend intact.
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AAPLRecord Streak and Resistance Levels
On the monthly chart, Solana has marked 10 straight red candles, the longest losing streak in its history, as noted by market analyst Nebraskangooner. At the time of writing, SOL trades near $74.20 within an incomplete August candle, positioning the coin at a critical juncture after experiencing significant losses from its late-2024 peak.
Over the course of 2026, Solana’s price has dropped from above $180 to the mid-$70 range, with each closed monthly candle in this period ending below its opening level. Analysts have pointed out that the August candle, while still open, must close above its monthly open of about $72.87 for Solana to break the persistent losing pattern.
The next area for a potential price recovery sits between $80 and $85, a zone that has previously served as both interim support and resistance. Should SOL establish a sustained move above this band, the $100 mark emerges as a major psychological and technical resistance level.
Solana’s monthly trend remains under pressure, as the token trades beneath key descending lines. Multiple analysts explain that, while ending the series of monthly losses would support near-term sentiment, it does not guarantee a full reversal. SOL must reclaim $80-$85 and $100 for any sustained recovery to hold weight.
To the downside, $70 is an immediate support to watch. Falling below this level risks exposing deeper supports near $60, and a decisive failure could push price action toward the $40-$50 region, echoing levels last seen at the end of 2023.
Short-Term Breakout or Further Weakness?
On lower timeframes, Solana is trading just below a descending trendline near $74.40 after rebounding from the $72 area. TraderSZ, a widely followed chartist and educator, indicates that a confirmed breakout above this level could open the door toward liquidity around $79. If price instead slips beneath short-term support, the recovery rally may quickly lose strength.
On the two-hour chart, SOL is fluctuating around $74.37 where the falling trendline intersects horizontal resistance, creating a significant barrier for bulls. A sustained move above both the trendline and $74.40 would serve as confirmation for a higher move, with resistance likely at $75.69 and again at $77.40. If buyers manage to clear these levels, the next target area would be near $79, where stop liquidity is concentrated.
However, momentum above the trendline has yet to be maintained for more than brief periods. Analysts stress the importance of buyers keeping price above $74.40 to solidify a breakout, rather than allowing it to fall back within the previous range.
A critical short-term pivot lies at $73.97. Should the price close below this mark on a two-hour basis, attention will shift to $72.81. Below that, a cluster of supports between $72.17 and $72.26 would become the next area to monitor for stability.
If these near-term levels are lost, Solana could quickly revisit Monday’s lows cited by TraderSZ, or sink toward the major support at $70.55 that defines the lower boundary of the current trading range.
Broader Implications
Solana remains in a technical position where momentum could shift quickly in either direction. Ending the sequence of red monthly candles would improve market sentiment, but the structure remains bearish until SOL can reclaim and consolidate above $80-$85 and $100. Analysts caution that, while a rebound could spark optimism among traders, failure to hold immediate support could deepen losses and reinforce the existing downtrend.
| Level | Type | Significance |
|---|---|---|
| $70 | Support | Immediate downside risk if lost |
| $74.40 | Trendline resistance | Short-term breakout confirmation |
| $77.40 | Resistance | Intermediate resistance, potential target |
| $80–$85 | Resistance | Recovery zone above prior support |
| $100 | Major resistance | Key hurdle for full reversal |
Solana is a blockchain platform designed for high-performance decentralized applications and fast transaction processing. Its native cryptocurrency, SOL, is used for transaction fees and staking within the network.
Mini dictionary: Nebraskangooner, also known as Nebraskan Gooner, is a prominent independent technical analyst who shares cryptocurrency chart insights and educational content online, often focusing on long-term price trends and market structure.
