Solana price tests the important price zone of $75-$80 as traders look for long-term bullish signals

Solana (SOL) is trading around $82, sparking a debate among technical analysts about whether it has hit the cycle bottom or is facing a deeper decline to $50. Trader Ali Martinez identified two key levels: $74.11 and $50.18, considered major support and resistance levels for SOL in the near future.

Market analysis platform Blockcircle previously posted on February 19 that SOL’s price chart is clearly showing a short-term downtrend.

Technical Analysis and Support Zones

According to the chart, Solana’s price was rejected at the upper trend channel bottom, with key support levels at $80 and $77. Additionally, another support level was identified below the current trading range, around $69.50.

Solana price chart on 1-hour timeframe | Source: Blockcircle/TradingView The chart depicts a descending channel pattern, with SOL price oscillating within clearly defined limits. The rejection at the upper trendline indicates continued selling pressure within the current downtrend structure. Trading volume indicators also show subdued activity, reflecting weak market sentiment in recent movements.

Accumulation or Reversal?

Trader Bluntz, on February 19, shared the view that SOL’s current price is in the early stages of accumulation, and a bottom has formed. His technical chart indicates an accumulation zone between $75 and $90. According to this analysis, if the $90 resistance is broken and then retested as support, SOL could rise to $108.

Bluntz’s chart also includes annotations about wave patterns and highlights a rectangular area marked as a potential accumulation zone. This perspective views recent price weakness as a buying opportunity rather than a sign of a deeper correction.

Solana price chart on 4-hour timeframe | Source: Bluntz/TradingView Meanwhile, trader SZ on February 20 shared a chart showing SOL losing support around $100. However, he emphasized this was only a temporary deviation, not a true breakdown. SZ’s analysis highlights that the support zone near $75 remains intact despite weakness at higher levels.

SOL price chart over 3 days | Source: TraderSZ/TradingView His chart emphasizes that short-term fluctuations below key support levels do not invalidate the overall support structure if the price quickly recovers.

Long-term Forecast: Solana Could Reach $500 by Mid-2026

Trader curb.sol, on February 15, issued an optimistic long-term outlook for SOL. His analysis, based on the “megaphone pattern,” suggests SOL could rise to $500 by July 2026 after hitting the bottom of this pattern.

The pattern indicates convergence of trendlines, hinting at a compression phase before a breakout. The chart also shows increasingly wider price swings within a larger range, with Solana’s current price action near the lower boundary of the pattern.

Weekly SOL price chart with megaphone pattern | Source: curb.sol/TradingView This forecast implies a significant increase from current levels if the pattern plays out as expected. Additionally, a target above $1,000 is considered a more distant possibility after reaching $500.

Debate on Solana’s Bottom Range: From $10 to $75

Trader TedPillows on February 18 shared that the most likely bottom range in the current cycle for SOL is between $50 and $10. His chart highlights $50 as a critical support level to test before potentially dropping to as low as $10.

His analysis also highlights accumulation phases in 2022 and 2023, when SOL traded within similar ranges. These phases often precede strong upward rallies.

Weekly SOL price chart | Source: TedPillows/TradingView Technical structures from multiple analysts converge around the $70–$80 zone, seen as a key area. If SOL maintains above this zone, the accumulation thesis is supported, enabling short-term recoveries to $90–$100. Conversely, breaking below $70 could open the door to a decline toward $50, which many analysts identify as a deeper support level.

Conclusion

Currently, Solana’s price has fallen sharply from its 2025 peak near $260 but is stabilizing above the important psychological level of $80. Relative Strength Index (RSI) indicators show oversold conditions on shorter timeframes, though overall momentum still leans bearish. The 50-day and 100-day moving averages are also trending downward, reinforcing the short-term bearish outlook. However, strong support zones present opportunities for accumulation and potential future recovery.