Solana extended its recent decline as bearish pressure intensified across higher timeframes. The asset now trades near a critical support cluster after losing key resistance levels. Market data shows weakening momentum, while analysts highlight a decisive phase for price direction.
Demand Zone Faces Critical Test
According to Ali Martinez, more than 100 million SOL moved between $91.45 and $82.60. This range now acts as the most important demand zone. Hence, current price action around $85 places Solana directly within this high-activity region.
Besides, failure to hold this zone could expose significantly lower levels. Martinez identifies $53.10, $35.40, and $23.60 as key downside targets. These levels reflect historical accumulation zones where buyers may re-enter the market.
However, sustained selling pressure could weaken buyer confidence. Consequently, the market may shift toward testing deeper liquidity pockets if this support fails.
Bearish Structure Signals Continuation
Meanwhile, Crypto Patel outlines a bearish continuation pattern on the two-day chart. Price recently rejected the $140–145 resistance zone and broke below $120 support. This move confirmed a broader weakening trend.
Moreover, the formation of a rising wedge suggests fading bullish strength. Although price formed higher lows, upward momentum continues to decline. Current levels near $87 sit at the wedge’s lower boundary.
Source: X
If breakdown occurs, Patel expects downside expansion toward $80 and $70–$65. Additionally, resistance remains firm between $95–$100 and $120. Hence, the broader structure still favors bearish continuation unless momentum shifts.
Trendline Support Offers Recovery Chance
On the other hand, CryptoCurb highlights a potential recovery scenario. Solana currently trades along a rising trendline support formed during recent accumulation. Multiple touches confirm strong buyer interest at this level.
Significantly, price compression below the $90–95 resistance suggests a breakout setup. If buyers defend the trendline, momentum could push SOL above $100 quickly. Above this level, further upside toward $120–150 becomes possible.
However, losing this support would invalidate the bullish setup. Consequently, price could revisit $80 or lower zones before stabilizing.
Solana as of press time trades at $87.65, with daily volume exceeding $3.7 billion. The asset declined 6.62% in 24 hours and 2.80% over the week. With a market cap near $48.9 billion, SOL remains at a decisive technical crossroads.
Source: https://coinpaper.com/15754/solana-price-tension-breakdown-risk-vs-100-rebound
