While Solana follows a horizontal trend after the recent sharp depreciation, experts in the market are divided on the direction of the asset. Solana, which rose to $260 in the past, entered a long correction process starting from that level and lost most of its market value. Although the asset, which is currently hovering around $89, gives signals of short-term recovery, a cautious atmosphere prevails in the general outlook.
Macro decline and technical indicators
In Solana, the price is still well away from its former peak after a recent 67 percent drop. According to analyst Umair Crypto, the asset continues a long-term downtrend with consecutive lower tops and bottoms. Currently, the price’s movement below its 100-day simple moving average, i.e. $97, indicates that the sellers maintain their dominance.
While repeated rejections in the $90-100 range suppress Solana’s rise, the $82-78 range constitutes an important support. At this level, transaction volume has increased and buyers have stepped in several times. However, if the mentioned support is broken, there is a risk of a pullback to deeper levels.
Umair Crypto is of the opinion that if the selling pressure continues, the price may first drop to $ 50 and then to the $ 35-40 region in the longer term. It is emphasized that investors who repurchase in such scenarios will make risky savings, but a strong return has not yet been confirmed.
Trend reversal signals and resistance zones
Crypto analyst CryptoCurb paints a more positive picture. Pointing to a developing “compound base” structure, CryptoCurb considers the price compression in the near term as a reversal signal. For this model to be considered valid, a strong resistance zone must be broken up.
The fact that higher lows have been formed since February indicates a gradual increase in demand. From a technical perspective, the $95-100 range stands out as a critical neckline for Solana. It is reported that if the price exceeds this threshold, the upward movement may gain momentum.
While CryptoCurb states that the first target for the short term is $ 115, it is of the opinion that the real break will come in permanent movements above $ 100. Exceeding this threshold may highlight strong bullish expectations in Solana again.
Narrow band, receiver control and instant view
BitGuru, on the other hand, argues that the decline in Solana has ended and the price has now entered a consolidation period. According to the expert, the tight band between 82 and 87 dollars increases the influence of buyers and low volatility creates a safer ground.
Recent price movements are bullish, with successive higher lows being formed. If the price exceeds $ 87, an acceleration towards the $ 90-93 range may begin. However, a decline below $82 will weaken the positive approach.
Solana is currently trading at $89.13 and stands out with a market value of over $51 billion. Although the increased transaction volume supports optimism in the short term, the critical resistance zone that will determine the main direction will need to be overcome.
For Solana, the comment that “Although there are signs of strengthening in the short term, the finalization of the direction depends on permanently exceeding the $ 100 level” stands out.
