Solana staged a sharp rebound on Friday, climbing 10.3% to move back above the $85 mark after three days of pressure.
The token had traded within a tight $78 to $88 range over the past week before tumbling to $67 during last Thursday’s wider market pullback.
Recent volatility dragged SOL beneath the $80 level, erasing the middle of its local range and unsettling short-term traders.
Friday’s recovery pushed the asset back above lost ground, fuelling speculation that a broader recovery attempt may be underway.
Market analyst Daan Crypto Trades said Solana has regained the pivotal $80 zone, an area that has repeatedly acted as both support and resistance in previous cycles.
He stressed that the token must consolidate above that level and build a base before “watching for a low-timeframe market structure break back to bullish,” Daan Crypto Trades said.
Analyst Ali Martinez pointed out that continued buying interest could drive SOL towards $88, a price last seen earlier this week.
The $88 level has capped upside attempts since last week’s breakdown and now stands as a significant short-term resistance barrier.
A decisive move beyond that threshold could open the path towards the $90 to $96 region, which aligns with the lows recorded in April 2025.
Crypto Batman observed that Solana is currently testing a two-year descending trendline on the weekly chart that has held firm since early 2024.
“Over the past 2 years, every time the price touches this level, a massive reversal occurs,”
Crypto Batman said.
He noted that each contact with the trendline has coincided with the end of major corrections, including the Q2 2025 retest that preceded a strong quarterly rally.
Despite the renewed optimism, some analysts remain cautious about downside risks if bullish momentum fades.
Altcoin Sherpa warned that SOL could retreat towards $50 should it fail to defend key support levels.
He highlighted that after losing the 200-week Exponential Moving Average near $121 and surrendering the April 2025 lows, the $77 to $78 zone now represents critical support.
A break below that band could expose the November 2023 breakout region around $51 as the next significant historical floor.
Crypto Bullet argued that the market bottom may still lie ahead, cautioning that “those who bought BTC above $80k and SOL above $120 must stay trapped for a year or two,”
Crypto Bullet said.
He added that “returning to those levels anytime soon doesn’t make sense,” Crypto Bullet said.
The analyst described the period between 2022 and 2023 as accumulation and labelled 2024 through early 2026 as distribution, suggesting SOL may eventually find support near $40.
At the time of reporting, Solana price was $87.09.