As signals of recovery intensify in the cryptocurrency market, Solana has reemerged as a focal point for traders. After enduring sharp swings in recent days, the altcoin staged an upward move, drawing strength from a two-year downward trendline. This price reaction, however, has split expert opinion: some foresee a robust short-term rally, while others warn of the risk of a deeper decline.
Sharp Bounce After Testing $67 Triggers Technical Attention
Solana, which had sunk to as low as $67 earlier in the week, shot up over 10% on Friday and reclaimed the $85 mark. The price has been tightly range-bound between $78 and $88 throughout the past week, with particular focus on the significance of recovering $80. Market commentators note that this region has historically served as both a sturdy support and a formidable resistance, underlining its importance for traders watching Solana’s momentum.
Two-Year Trendline Offers Support Once More
Some technical analysts highlight that Solana has again touched its two-year descending trendline on the weekly chart and bounced upwards from this level. This macro trendline, tested multiple times since early 2024, has consistently sparked noticeable reversals with each encounter. A prominent example remains fresh in investors’ minds—the rebound that followed a similar test of this trendline in the second quarter of 2025, which was the catalyst for a significant upward move.
In the near term, $88 stands as a critical resistance level. Breaking through this area could open the door to a move towards the $90–$96 range. In particular, maintaining a foothold above $80 is viewed as confirmation of a healthier technical outlook. On the other hand, if Solana fails to hold this level, any bullish attempts may quickly fizzle.
A comparable scenario unfolded recently with Bitcoin, which tumbled from over $80,000 before finding its footing again around the $70,000 band—prompting a search for balance among investors. This hesitant recovery, seen across the broader market, has had a direct impact on high beta assets like Solana, amplifying both risks and opportunities.
Is the $50 Scenario Still on the Table?
Some more cautious analysts argue that Solana may not have found its bottom yet. The loss of the 200-week exponential moving average and any slide below the April 2025 lows are cited as signals of ongoing technical weakness. Should the price fall back below the $77–$78 area, a return to the historically significant $51 support level is possible, raising concerns among those wary of downside risk.
Certain market observers draw an even starker picture. According to those who view the 2022–2023 period as accumulation and 2024–2026 as a phase of distribution, the market remains mired in a “markdown” phase. Under this scenario, they consider the $40 zone as a potential bottom for Solana, reflecting skepticism about a swift or sustainable recovery in the near term.
While the debate continues, at the time of writing Solana is trading around $84 and remains slightly in the red on a weekly basis. Investors are closely monitoring both technical indicators and the broader global risk appetite as they try to gauge Solana’s next move.
