Solana price has staged a modest recovery after a sharp pullback, but the price continues to struggle below a key resistance zone, keeping the broader structure range-bound. While market conditions have slightly improved, SOL remains capped under the $92 level, preventing a confirmed bullish breakout.
The current setup suggests that the recent bounce may not be enough to shift momentum. Instead, the price appears to be consolidating within a defined range, raising the possibility of another move toward lower support levels before any sustained recovery begins.
With the $80 zone emerging as a crucial demand area, the next move could determine whether Solana sets the stage for a stronger rebound toward $100 or continues to trade within the existing range.
Solana continues to trade within a well-defined range, with the price repeatedly facing rejection near the $92 resistance zone. Despite recent recovery attempts, bulls have failed to secure a breakout, keeping the price action capped within the range. The chart highlights a prolonged consolidation phase, where SOL has been forming a base between $92 and $68, indicating a balance between buyers and sellers.
However, the recent rejection near the upper boundary suggests weakening bullish momentum.
The RSI is incremental, while the MACD is still bearish, which suggests the buying pressure has not mounted yet. With this, the possibility of a rejection may remain higher with the price heading back to the support.
Structure & Key Zones
The highlighted zone around $80 emerges as a critical area, aligning with your thesis of a potential liquidity sweep. A move toward this level could act as a reset, allowing stronger hands to accumulate before a possible rebound.
If Solana price fails to reclaim $92, the probability of a pullback toward the $80 support zone increases. This level is likely to attract buying interest and could act as a trigger point for a relief rally.
However, if $80 fails to hold, the downside could extend toward the $68 range low, which remains the key structural support. On the upside, only a decisive breakout above $92 would invalidate the current range-bound structure and open the path toward $100 and higher levels.
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