Solana (SOLUSDT | Daily Level) Technical Analysis | 2026.02.07

From the daily structure, SOL formed a clear historical high around $280 and has entered a typical pattern of wide fluctuations at high levels—shifting the center of gravity downward—followed by a breakout with increased volume. The current price has quickly retraced to around $85, which is precisely the key area of dense trading before the last bull market started, and also the dividing line for the long-term trend.

The rhythm of the current decline is significantly faster than the previous adjustment, representing an accelerated downward phase after the completion of high-level distribution. From the characteristics of the trend, it is not merely dragged down by the overall market, but rather SOL itself is undergoing deep repricing of its valuation and chip structure after a substantial prior increase. Previous rebounds have repeatedly stopped below the descending trend line, indicating a complete shift in dominance to the bears.

The current major issue is: the price has fallen below the $120 central platform and the rebound is without volume, which means the previous main upward trend has been confirmed to have ended, and the market has officially entered a medium-term—longer cycle adjustment.

Key level judgment:

$85–$80 range: Core support at the daily level. If it cannot stabilize and show a rebound with volume, the price is likely to test $70 / $60, corresponding to the starting range of the last complete bull market and the long-term cost zone.

$110–$120: First resistance zone. Only by regaining this range and consolidating can the downward trend be alleviated.

Above $150: The dividing line for medium-term bullish and bearish trends. Below this level, all rebounds should be viewed as corrective movements in the downward process.

Rhythm judgment:

It is more likely to follow the path of "sharp decline + long-term horizontal digestion," completing the reconstruction of chips through time instead of a quick V-shaped reversal.

Summary in one sentence:

SOL has entered the deep waters of medium-term adjustment, with $85 being the critical defense line. Until it returns to $120, the overall strategy should remain focused on defense and position control.