Solana is back inside a major Fibonacci accumulation zone that previously came before a huge rally. Analysts now say the $50-$81 region must hold for SOL to build a recovery setup toward higher targets. Solana Re-Enters Historic Fibonacci Accumulation Zone That Previously Preceded a 2,200% Rally Solana (SOL) is trading inside a key Fibonacci retracement area that previously served as the foundation for one of its strongest bull-market advances. According to Crypto Patel, SOL has returned to the 0.5-0.618 Fibonacci retracement zone, an area that preceded a rally of more than 2,200% during the previous cycle. Solana Weekly Chart (SOL/USD). Source: Crypto Patel on X The chart highlights the current accumulation region between roughly $50 and $70, with SOL trading near the same Fibonacci levels that supported the market before its breakout in 2023. During that period, Solana spent months consolidating inside the zone before breaking above long-term resistance and beginning a major uptrend. According to the analysis, the current structure shares similarities with the previous setup. The chart shows SOL revisiting the 0.5 Fibonacci level near $70.30 and the 0.618 Fibonacci level near $50.02, both of which form the core of the highlighted accumulation zone. The chart also identifies several important levels above the market. Initial resistance sits near $98.60, while a larger resistance area appears around $297, where Solana previously struggled to maintain upward momentum. Beyond those levels, the analyst outlines a long-term scenario that could eventually target the $1,000 region if a new altcoin cycle develops. For now, the focus remains on whether buyers can continue defending the $50-$70 support area. While the historical comparison highlights similarities to the previous breakout setup, SOL remains below major resistance levels and has yet to confirm a new bullish trend. The current Fibonacci zone remains the key area traders are monitoring as the market searches for a longer-term direction. Solana Holds Critical Support Zone as Analyst Sees Recovery Potential Despite Broader Market Risks Solana (SOL) is trading near a major support area after a sharp market correction pushed the token back toward levels that previously acted as key turning points. According to analyst Hardy, SOL appears oversold and may be preparing for a recovery as long as broader market conditions remain stable. The monthly chart shows Solana consolidating near the $66-$81 range, an area highlighted as an important support zone. After falling from its recent highs, SOL has returned to levels that historically attracted buying interest during previous market cycles. Solana Monthly Chart (SOL/USDT). Source: Hardy on X According to the analysis, Bitcoin's recent decline and recovery, combined with rising Bitcoin dominance, could continue putting pressure on many altcoins. However, Hardy argues that Solana has already absorbed much of the recent weakness and is showing signs of stabilization compared with other assets. The chart also projects a potential recovery path if support continues to hold. Several upside targets are highlighted above the current price area, suggesting the analyst expects bullish momentum to gradually return if market conditions improve. The main downside risk remains a broader market deterioration led by Bitcoin. According to the analysis, a move toward the $33-$40 region represents a worst-case scenario for Solana, but such a decline would likely require a significant Bitcoin selloff and a much weaker overall crypto market environment. For now, the focus remains on the current support zone between roughly $66 and $81. As long as Solana holds this area, the chart continues to favor stabilization and a potential recovery attempt rather than an immediate move to lower levels.
