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Solana continues to draw strong attention as analysts debate whether the current structure marks a major accumulation phase or a temporary recovery. Recent price action shows renewed strength, with SOL trading near $88 after steady gains this week. Consequently, market participants now focus on whether this momentum can evolve into a broader cycle expansion or fade into another corrective leg.
Macro Structure Signals Long-Term Opportunity
Freedom By 40 highlights a compelling long-term setup based on Solana’s weekly structure. The asset previously topped near the $240–$260 range before entering a deep correction. Price later found strong demand between $20 and $40, forming a base.
Moreover, Solana now prints higher lows while holding key Fibonacci levels near $45 and $29. This behavior suggests accumulation rather than distribution. The broader range between $70 and $260 defines the current macro consolidation zone.
Significantly, a breakout above $260 could confirm a new expansion phase. Such a move may open the path toward four-digit valuations over time. Hence, positioning within the $40–$80 region remains attractive for long-term participants.
Short-Term Structure Faces Key Decision Point
However, MCO Global DE presents a more cautious near-term outlook. The analyst identifies an ongoing corrective pattern, with price hovering near the $86 level. The current move appears to extend wave (B) upward within a broader structure.
Additionally, resistance between $85.90 and $88.90 acts as a critical decision zone. Holding above $84.36 keeps the upward extension valid. This scenario could push price toward $90 and potentially $96.
Source: X
On the other hand, a breakdown below $84.36 may trigger wave (c). Consequently, downside targets include $81.75, $80.50, and possibly $78. This region previously attracted strong demand, making it a key support area.
Bullish Shift Faces Structural Resistance
RAFAELA_RIGO points to a notable shift on the weekly timeframe. The trend recently flipped bullish after defending the $80–$85 zone. This development signals improving market sentiment.
Moreover, price now challenges the $120–$125 resistance range. A confirmed breakout could drive further upside toward $160 and even $200.
However, the broader structure still suggests caution. Failure to reclaim $120 may invite renewed selling pressure. Consequently, the $80 level could face another test, with deeper downside toward $50 still possible.
Market Context and Momentum
As of press time, Solana trades at $84.80, supported by strong trading volume exceeding $4.2 billion. The asset gained over 3% in 24 hours and more than 1% weekly.
Besides, its market cap now stands above $51 billion, reflecting sustained investor interest. While short-term uncertainty remains, the combination of accumulation signals and rising momentum keeps Solana firmly on watchlists.