Solana (SOL), currently in a bottoming-out phase... 'Trend Reversal' only after exceeding $79

▲ Solana (SOL)

An analysis suggests that while Solana (SOL) is forming a bottom in the $73 to $75 range, a clear trend reversal is unlikely until it surpasses $79.

According to U.Today on August 6 (local time), Solana has been consolidating within a narrow price range after rebounding from its June low. Strong upward momentum sufficient to break out of the downtrend that dominated most of 2026 has not yet appeared.

The most notable change is the convergence of the 20-day and 50-day moving averages near the price. With Solana hovering at almost the same level as both moving averages, neither buyers nor sellers have secured definitive control. U.Today assessed that it is moving from a downward correction to a neutral phase, but a recovery has not yet been confirmed.

Buyers maintained prices higher than the previous low formed in June, preventing a retest of the annual low. However, strong demand sufficient to reclaim the upper resistance level has not formed. The Relative Strength Index (RSI) also remained around 45, below the neutral line. Trading volume has also significantly decreased in recent weeks, indicating that investors are waiting for new upward momentum.

The first hurdle for a bullish reversal is the 100-day moving average near $79. If this price is reclaimed, the next target becomes the psychological resistance level of $85. A breakthrough above $85 would significantly improve the mid-term technical outlook, and the declining 200-day moving average could also emerge as the next resistance level.

On the downside, the $71 to $72 range, where the 20-day and 50-day moving averages overlap, is the first support level. If this range breaks, the June low of $64 would be exposed again, potentially resuming the existing downtrend. Solana is building a bottom after several months of bearishness, but a sideways trend is likely to continue until a volume-backed break above $79.

[Key Article Summary]

-Solana has stabilized in the $73-$75 range, but no bullish reversal signals have been confirmed.

-If the 100-day moving average near $79 is broken, $85 is presented as the next upward target.

-If the $71-$72 support level breaks, it could fall to the June low of $64.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*