Victoria Bazir
⬤ Solana (SOL) is showing its first real signs of life after taking a beating, based on what the daily chart's telling us. Price caught support clean in the $120–130 zone after bleeding from the $200–240 range. This kind of action usually shows up after a market reset—when the selling finally exhausts itself and things start to rebuild.
⬤ The chart's showing a higher low forming after that initial bounce, which is a step up from the nasty sequence of lower lows we saw before. SOL also reclaimed the mid-$140s zone that used to be range support before turning into resistance during the bounce attempt. Volume spiked during the drop into demand and then cooled off on the recovery—classic signs of stabilization rather than a rip-your-face-off rally.
⬤ Still, SOL's sitting below serious resistance around $165–170, marked by that dashed line on the chart. That zone has rejected rallies before and lines up with where the old trading range started. Until price breaks above and actually holds that level, we're really just watching a base form rather than any confirmed move higher. The structure's improving, sure, but we need confirmation.
⬤ This phase matters because it usually decides whether a bigger trend can kick back in or if we're just stuck in range-bound hell. Holding above demand while stacking higher lows keeps the stabilization case alive. How the market reacts when it hits that overhead resistance will be critical for Solana's next directional move—and it'll likely shape sentiment across the broader altcoin space too.
Victoria Bazir
