Solana price is trading at $77.97, down -2.14% in the last 24 hours. Source: SOL price via Brave New Coin
At higher time frames, the structure shows SOL losing momentum after repeated failures around $140. The weekly chart highlights $77 as a historically reactive level, while deeper support lies around $67 and $56 as sellers extend control.
Solana’s declining trendline back in focus
On the higher time frame, SOL is retesting its long-term declining bullish trendline, a level that has historically triggered strong reactions. As highlighted by CryptosBatmanevery significant change in this trendline over the past two years has led to meaningful reversals.
Solana is once again testing its long-term descending trendline near the critical support zone of $75-$82 as traders look for a recovery or a collapse. Source: CryptosBatman via X
Currently, SOL is trading around $77-$80, directly above a key support band between $75 and $82. A clean grip here keeps the structure intact. However, a failure below $75 opens the door to a deeper liquidity pocket around $67-$70, where previous demand clusters formed.
Elliott structure represents recovery scenario
A separate diagram divided by ThePenguinXBT outlines a broader corrections structure that is nearing completion. The price has returned to the Fibonacci expansion zone of 1,236–1,618 near $63–$40 on the macro chart, while remaining just above the psychological area of $75–$80.
Solana is approaching the Fibonacci extension zone of 1,236–1,618 while remaining above $75–$80, with $101 and $119 acting as key confirmation levels for a broader recovery. Source: ThePenguinXBT via X
If SOL stabilizes above this base, the upside structure will begin to activate above $101 first. Reclaiming $119 would confirm strength and open space towards $175-$180, followed by the wider range resistance around $253-$265. Until $101 is recovered, this remains a recovery attempt and not a confirmed breakout.
Institutional and internal strength is built in the background
Despite the short-term weakness, fundamentals continue to strengthen. SolanaFloor reported that Solana recorded approximately 959 million weekly transactions, a new all-time record. At the same time, on-chain data from DeFiLlama shows that the total value locked (TVL) in SOL terms is climbing back to cycle highs, reflecting continued participation in the ecosystem.
Solana registers approximately 959 million weekly transactions, reaching a new record despite continued price pressure. Source: SolanaFloor via X
Adding to the institutional story, recent revelations highlighted the growing exposure of major financial players to Solana-linked products. Historically, periods where growth in the chain accelerates during price declines typically create a favorable medium-term environment.
The total value locked (TVL) on Solana is climbing back to cycle highs in SOL terms, indicating sustainable participation in the ecosystem. Source: Solana Sensei via X
Market context: sentiment versus structure
If Rei As highlighted, calm phases often breed complacency, while periods of stress often provide opportunities. SOL is currently trading in a zone where sentiment feels heavy, especially after the recent collapse towards lower support. That kind of pressure usually manifests itself near structural decision areas, and not at the market tops.
Solana is testing the key support zone at $75-$80 on a higher time frame as heavy sentiment hits a key structural decision area. Source: Rei via X
Technically, the price is reacting near a key higher timeframe support region, around the $75-$80 zone. As long as that area holds, the structure allows for a potential recovery towards the $100-$120 range.
Final Thoughts: Can Solana Price Reclaim $140 and Target the 2025 Highs?
From a broader perspective, the $140 level remains a crucial pivot point. It previously acted as macro support before turning into resistance, and regaining it would shift medium-term momentum back in favor of the bulls. Above that, $175 and $211 represent the next structural barriers ahead of a possible move towards the $250-$295 region.
However, if Solana price fails to defend the $75-$77 zone, the downside liquidity pockets will be around $67 and $56. For now, Solana price is compressing at historically reactive support while on-chain metrics soar to new highs. Whether this becomes a base for recovery or a step down will likely depend on Bitcoin’s stability and overall market sentiment in the coming weeks.
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