Solana price action turned weaker this week as selling pressure pushed the token lower, reinforcing uncertainty across the broader market. The price of Solana (SOL) stands at $83.41, marking a daily decline of over 4% . Additionally, the asset shows a mild 7-day loss, despite maintaining strong trading volume above $4.3 billion. This movement reflects a market caught between bearish continuation risks and early accumulation signals. Resistance Rejection Signals Weak Momentum Analysis from Morecryptoonl highlights a failed push toward the $87.87 resistance zone. Price approached this level but quickly reversed, signaling limited bullish strength. Moreover, the rejection aligns with a Fibonacci retracement cluster between 61.8% and 78.6%, often viewed as a reversal zone. Consequently, the recent upward move appears corrective rather than impulsive. The absence of a clear five-wave structure suggests weak trend conviction. As a result, downside risk remains elevated in the short term. Key support now sits between $78.76 and $81.65, where prior demand zones formed. A breakdown below this region could expose SOL to deeper losses toward $75 or even $72. Accumulation Structure Keeps Bulls Engaged However, WebTrend presents a more constructive outlook. The analyst identifies a transition from a downtrend into early accumulation. The sharp drop toward $70 established a strong base, which continues to hold as macro support. Since then, SOL has printed higher lows, forming a potential double-bottom pattern between $75 and $80. This structure suggests that sellers are losing control. Additionally, the current price range between $80 and $90 reflects compression, often seen before larger moves. Source: X Importantly, WebTrend maintains that bullish positions remain valid while $70 holds. A confirmed trend reversal would require a decisive break above $100. Until then, the market remains in a neutral consolidation phase with slight bullish bias. Long-Term Outlook Hints at Cycle Expansion Meanwhile, analyst shah focuses on the broader market cycle. The long-term chart shows a peak near $250 followed by an extended correction into the $80–$120 range. This zone now acts as a key accumulation area. Significantly, repeated higher lows indicate gradual buying interest. This pattern often precedes major expansion phases in crypto cycles. Consequently, speculation about new all-time highs in 2026 aligns with historical trends. However, confirmation remains critical. SOL must reclaim the $120–$150 region and eventually break above $250. Without these moves, the bullish scenario remains uncertain.
