Coinpaper 2026-02-28 20:32:18

Solana Price Prediction: SOL Rejects $90 Resistance, Bears Push Price Toward $76

Solana continues to sit at a critical crossroads as traders weigh recovery hopes against lingering downside risks. The token now trades at $82.37 after a modest daily gain of 1.09% . However, the broader trend still reflects a 3.28% decline over the past week. Market participants watch key technical levels closely as momentum shifts within a tight multi-week range. With a circulating supply of 570 million tokens, Solana holds a market capitalization of $46.8 billion. Daily trading volume exceeds $4.4 billion, showing that liquidity remains strong. Yet price structure suggests uncertainty rather than conviction. Consequently, analysts remain divided on the next decisive move. Bearish Pressure Builds Below $80 Ali Martinez notes that Solana appears to be forming a flag pattern on lower time frames. This structure often precedes a breakout move once compression ends. However, he identifies $76 as the level that must break to confirm downside continuation. Consequently, traders now treat that threshold as the technical trigger point. Wealthmanager also highlights the importance of the $76–$78 zone. The asset recently traded below $80 and repeatedly tested this floor. Each bounce has grown weaker, which signals fading buyer conviction. Moreover, the pattern of lower highs from the $90–$92 region reinforces short-term bearish momentum. The Relative Strength Index remains muted and fails to show strong recovery signals. Hence, momentum indicators support the idea of continued selling pressure. If sellers force a decisive close under $76, liquidity could thin rapidly. That scenario exposes $70 first and then the wider $60–$70 demand range. Support Zone Faces Critical Test Source: X Morecryptoonl focuses on the broader multi-week range between roughly $62 and $90. Within that structure, Solana now tests support near the 61.8% retracement around $75–$78. Bulls defended this region previously, yet the current reaction lacks strong reversal signals. Additionally, price action does not show sustained consolidation that would suggest accumulation. If this support fails, technical projections point toward $72 as the next immediate target. A deeper move toward $62 could follow if momentum accelerates. However, reclaiming $82–$85 would shift short-term structure back toward strength. Such a recovery would invalidate immediate breakdown risks.

Most Read News

Claude AI Soars to No. 2 in App Store After E...
2026-02-28
Polymarket Iran Bets Hit $529 Million as New...
2026-02-28
Bitcoin-to-Gold Ratio Hits Key 14-Month Miles...
2026-02-28
Tezos price prediction 2026-2032: How high ca...
2026-02-28
ADA Technical Analysis February 28, 2026: Sup...
2026-02-28
Bitcoin Buying Just Ramped Up Into The Billio...
2026-02-28
Bitcoin: Why analysts warn BTC could drop to...
2026-02-28
Here's how bitcoin's price rise could be fuel...
2026-02-28

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.