Solana Technical Analysis: Can SOL Reclaim $80 Soon?

Solana price outlook and market context

Solana (SOL) is trading near $73.96 after a roughly 1% gain over the past 24 hours, but the market shows caution: trading volume has fallen about 7% and over $7.7 million in liquidations were recorded recently. Analysts warn SOL sits at a critical technical junction that could determine its next major move.

Key support levels and monthly candle setup

Data indicates SOL has failed to print a positive monthly candle since September 2025. To break this nine-month streak, the token needs to hold above $73.50 in the coming days. More than 50 million SOL were accumulated near $73.75, making that area the primary short-term support level for traders and investors.

Technical patterns: falling wedge and resistance targets

From a technical analysis perspective, preserving the $73.75 support and completing a falling wedge pattern could set the stage for a rebound toward the next resistance at $80, followed by a higher target near $88.91. This bullish scenario aligns with classic wedge breakouts that often precede trend reversals in crypto markets.

Bearish risk if support breaks

Conversely, a decisive close below $73.75 under sustained selling pressure would raise the probability of a new down leg, exposing SOL to declines toward $60 and potentially the $50 area. Reduced volume and recent liquidations underline how fragile the short-term structure remains.

Momentum indicators: MACD and RSI

Momentum indicators continue to favor bears in the short term. The MACD sits in negative territory and has produced a bearish cross, signaling seller dominance. The RSI reads 46.28, a neutral-to-bearish reading. A sustained move above the 50–55 RSI band would support a fresh bullish run, while a drop below 40 could accelerate selling pressure.

What to watch next

Traders should monitor price action around $73.50–$73.75, trading volume, and RSI behavior over the next few days. Close and confirmed moves — whether a wedge breakout toward $80 or a break below $73.75 — will likely define SOL's path. Stay alert to on-chain activity and broader crypto market sentiment when planning trades.