Solana became the focus of the market again, decreasing by approximately 1.82 percent in the last 24 hours and trading around $ 70.67. Although the price remaining above $70 indicates that support is maintained in the short term, it cannot be said that buyers have clearly confirmed the change in direction.
The falling trend line stands out as the critical threshold
In the charts shared by analysts, SOL displays an appearance that is pushing the falling trend line after a long correction. The first important area from a technical perspective lies between $72 and $75. If this area is regained, the $80 level stands out as the next main target.
The real confirmation in the short-term outlook for SOL may come with a sustained break above the falling trend line; Exceeding $80 may bring the $90 region back to the agenda.
On the other hand, if there is a new rejection from the trend line, the possibility of the price falling to the 65-68 dollar band remains on the table. For this reason, the current recovery attempt is considered to be at a technically cautious stage.
If $80 is exceeded, $90 and $95 are watched
The $80 level is seen as the first strong upward threshold in the market. Exceeding this point may indicate that the final response was not just a short-term relief movement. In such a scenario, the $90 region stands out, while $95 is watched as the next important recovery target.
There is a similar picture on the daily closing side. Analysts state that the bullish outlook has not gained full strength before the daily close above the falling trend line. The fact that the weekly MACD indicator has not yet produced a clear bullish intersection supports the cautious stance.
Tokenized share volume on the Solana network attracted attention
In addition to the price chart, network data also stood out as an element supporting the Solana narrative. Daily volume of tokenized equity transactions on Solana reached $553 million. This development shows that network activity is not limited to crypto trading and meme coin transactions.
Mini dictionary: Tokenized share refers to the creation of a digital representation of a traditional company share on the blockchain. This structure can offer price tracking and on-chain transactions similar to shares on certain platforms.
The liquidity map also increases the importance of the current price zone. There are clear liquidity clusters above near $90 and below near $50. If SOL holds above $70 and breaks the $75 to $80 band, the market may try to move towards $90. On the other hand, if the $ 70 support is lost, the $ 65 to $ 60 range may come to the fore again.
A wedge formation is observed in the long-term structure
It is stated that on the broader time frame, the SOL price is moving in a large falling wedge formation. If a possible break occurs from this structure, it is evaluated that a target extending to the level of $ 233.23 can theoretically be maintained in the longer term. However, it is emphasized that this is not a short-term expectation, and that first 80 dollars, then 95 dollars and then 100 dollars above must be reclaimed.
In the short term, the outlook remains cautiously positive above $70. Despite this, exceeding the $80 level stands out as the main condition for the market to produce a stronger directional signal.
