Solana has been on a volatile trend lately, and market analysts have different views on whether the asset is near the bottom or preparing for a new decline. A period of short-term weakness continues to dominate the market as the price fluctuates around key resistance levels. However, there are also those who hope for a positive outlook in the long term. While a group of experts emphasize that the downward trend technically continues, some analysts suggest that the correction process may be nearing its end.
Technical levels and selling pressure
Analyst Morecryptoonl highlights the importance of the micro resistance zone between $ 86.82 – $ 88.46 for Solana. Since the price is trading below this band, it seems that the volume of buyers was not enough after the short-term recovery attempts. So, with the incoming selling, the price failed to break through this zone several times while the sellers were still in control.
The fact that this resistance point coincides with the Fibonacci retracement levels shows how critical the region is from a technical perspective. It is stated that unless there is a clear close above $88.46, the downtrend will be maintained and the downside targets may continue up to the $81.70 level and the $80 – $78.80 band.
Different perspectives in the analysis
In another analysis, an expert named BATMAN states that price movements in Solana still reflect a clear downward trend. Following the peak around $260, it was reported that consecutive lower peaks and bottoms were seen in Solana. This technical outlook also confirms the long-standing pressure.
Additionally, it is stated that Solana has a weaker trend compared to cryptocurrencies with large market capitalization. Although the price approached the $95 – $100 band, it could not hold above this important resistance zone. This band, which served as support in the previous period, is now an insurmountable obstacle. According to BATMAN analysis, if the price cannot exceed this range again, there is an increased possibility of a retreat towards the $70 – $75 levels in the short term. On the other hand, a strong move above $100 could disrupt this entire bearish chart and reignite buyer interest.
Long-term optimism and searching for the bottom
CryptoCurb, on the other hand, approaches Solana from a longer-term perspective. The current cycle is predicted to be approaching a significant end as it surpasses the 420-day bottom seen in 2022. According to the analyst, this long correction period indicates that purchasing transactions may increase in the current region.
The price is just below the psychologically critical $100 level. Exceeding this threshold may open a wider area for recovery and a potential movement area may occur up to $120, 160 and $260 as upside targets, respectively.
Evaluations argue that the search for the perfect entry point may impose opportunity costs. According to CryptoCurb, taking a position early can provide an advantage to take a share of the long-term rise and create an opportunity for expansion towards the $1,000 target.
“Solana is currently priced just below $100, having surpassed the 420-day bottom period in 2022. This period could be a sign of a new accumulation phase and potential expansion in the long term.”
According to the latest data, Solana is trading at $85.54, with a daily decline of more than 2 percent. While the weak trend continues on a weekly basis, the increase in transaction volume is noteworthy; This reveals that active transactions continue in the market despite directional uncertainty.
