Solana (SOL) continues to navigate critical support zones as price activity shows notable weakness. As of press time, SOL trades at $81.47, marking a 5.51% decline over 24 hours and a 4.26% drop over the past week.
Trading volume reached $3.92 billion, while the circulating supply stands at 570 million SOL, valuing the network at roughly $46.38 billion. Analysts emphasize that current support levels will determine the mid-term trajectory for the cryptocurrency.
$76.6 Level Draws Market Focus
Analyst jussy_world believes the $76.6 zone remains the key pivot. He notes that Solana bounced nearly 50% from this level in 2022. However, that rebound eventually faded and led to a drop toward $20. This time, he expects a smaller recovery if buyers step in.
More importantly, he warns that a weekly close below $76.6 would shift the mid-term structure. Consequently, downside targets sit at $47, $36, and $28. That makes the current level critical for both swing traders and long-term holders.
The big question now concerns duration. Strong volume near support suggests buyers still defend the zone. However, repeated tests often weaken support over time. Hence, prolonged consolidation without strong upside momentum could increase breakdown risk.
Broader Support Zones in View
Ali Martinez also highlights deeper safety nets if weakness continues. He identifies $50.22 as the next major demand zone. Beyond that, he marks $22.47 and $9.98 as longer-term structural floors.
These levels align with historical accumulation areas from prior cycles. Additionally, they reflect zones where long-term investors previously stepped in aggressively. If broader market sentiment deteriorates, these levels could attract strategic buyers again.
Short-Term Range Controls Price Action
While long-term risks loom, lower time frames tell a different story. Satoshi Flipper points to a clean four-hour consolidation rectangle. Solana continues to bounce between $76–$78 support and $89–$90 resistance.
Source: X
This structure has created steady intraday opportunities for range traders. Currently, price trades near $83, close to the range midpoint. A decisive break above $90 could open momentum toward $94. Conversely, a clear loss of $76 may expose $72 quickly.
Moreover, declining momentum indicators suggest energy may soon expand. Range compression often precedes volatility spikes. Therefore, traders expect a breakout attempt within days rather than weeks.
Source: https://coinpaper.com/15019/solana-price-prediction-sol-consolidates-near-76-support-as-bears-eye-50
