Solana holds $74 support, eyes $87 resistance as bulls defend recovery zone

Support Holds as Buyers Absorb Pressure

SOL is currently consolidating after a recent rebound, indicating a period of stabilization. The daily chart suggests that buyers are actively absorbing selling pressure, allowing the broader recovery structure to remain in place. Such controlled declines have so far prevented a rapid loss of momentum among bullish traders.

At present, Solana is holding above a clear rising trendline, with price action clustered around the $77 mark. The coin continues to hover near a supportive cloud zone stretching from $74 to $77, making this range crucial for determining the next directional move in the market.

A decisive rebound from current levels could push SOL toward the major resistance at $87.20. If the price can break and sustain a position above this barrier, the next targets include $96, followed by the psychologically important $100 to $104 zone.

Strength above the $87 region could provide the momentum needed for Solana to challenge higher resistance bands, potentially opening a path toward new highs.

However, the bullish scenario remains vulnerable. If the daily chart loses the rising trendline and SOL drops below $74, this would undermine the positive outlook and increase the risk of a decline toward the upper $60 range.

Correction May Offer Long-Term Accumulation Opportunity

Technical analyst Crypto Patel pointed to the possibility of a deeper correction, referencing a three-week Solana chart formation. This setup highlights a major long-term accumulation zone between approximately $30 and $52, where longer-term investors might see an opportunity for strategic entries.

Following its drop from the $240 resistance zone, SOL now trades near $77, still well below significant barriers at $95 to $100 and $140. As a result, the wider trend has yet to turn convincingly bullish.

Crypto Patel identified a green fair value gap as a potential low-risk accumulation area. If SOL retraces into this region, it could complete the correction phase and provide patient buyers with a more compelling entry point. However, the path to recovery requires Solana to stabilize and construct a durable support base within this zone.

A recovery sequence would likely begin with a reclamation of the $95 to $100 range. Overcoming this hurdle could improve market sentiment and open the door to a further rally toward $140.

A continued move above $240 would mark a powerful shift toward a long-term bullish reversal. Nevertheless, this prospective trajectory remains uncertain, as SOL might start to recover earlier, or drop below the $30 threshold, compromising the broader bullish framework.

Mini dictionary: Crypto Patel is an independent cryptocurrency chart analyst who shares technical insights and trading ideas on platforms including X, focusing on medium- and long-term price structures for various digital assets.

Analysts consider the area between $30 and $52 as an important accumulation zone for SOL, where downside risk may provide patient investors with a favorable entry point if current support levels break down.