Solana Distribution Pattern Keeps $190 in Focus for Bulls
Solana extended its decline this week as selling pressure pushed the token toward a critical technical zone. The asset trades near $80 after losing over 12% in seven days. Daily volume exceeds $4.3 billion, showing active positioning from both bulls and bears.
With a market cap above $45 billion, Solana remains a major large-cap asset. However, analysts now debate whether this level marks a short-term floor or signals further downside.
🔸 Support at $72 and $64 Faces Early Pressure
Morecryptoonl notes that market structure still looks weak on higher timeframes. The analyst explains that buyers must defend price before a break below $72.
Otherwise, the probability of another leg lower increases. Moreover, the chart lacks a clear five-wave impulsive move upward. Hence, conviction around a confirmed bottom remains limited.
If buyers step in quickly, last week’s low could hold as a base. However, that scenario requires a decisive break above $90. Without that breakout, risk stays tilted toward another sweep of liquidity. Morecryptoonl identifies $62 as the next key support if weakness continues.
Additionally, ErickCrypto21M tracks similar levels but places stronger emphasis on $64. According to that analysis, $64 acts as major structural support. The analyst sees resistance around $95 before any sustained upside.
Consequently, price may retest $64 before attempting a broader recovery. A move above $95 would improve medium-term sentiment significantly.
🔸 Distribution Pattern Keeps $190 in Focus
Beyond short-term levels, Solana still trades inside a broad distribution range. The token rejected the prior 2021 all-time high zone near $260. Since then, price carved a visible head-and-shoulders structure. Breakdown pressure accelerated toward the $80–$81 area. This zone now serves as critical short-term support.
ReetikaTrades references Capo’s broader outlook on Solana. That view anticipates a sharp rebound toward $190 before deeper downside.
SOL
80.31
-2.51%
