Solana (SOL) Price: SOL Is at a Decision Point - Here’s the Bull Case and the Bear Case
TLDR
- Solana is testing key support near $73, close to the 0.382 Fibonacci retracement at $73.89
- A recovery above $77 would put SOL back above descending resistance and open the door to $80-$84
- Losing $73 could expose the $68-$64 region, with the June low near $60 below that
- Analyst Crypto Patel identifies $52-$73 as a long-term accumulation zone on the weekly chart
- Long-term price targets of $500 and $1,000 are on the chart, but depend on multiple major breakouts
Solana is sitting at a key level right now. The price is hovering near $73.90, just above the 0.382 Fibonacci retracement at $73.89 and an ascending trendline that has held since June.
Analyst Crypto Patel has been watching this level closely. He says holding $73 keeps the bullish structure intact, while a breakdown could drag the price into the $68-$64 liquidity zone.
Buyers have defended this rising trendline multiple times during the recovery. That history gives the support some weight, but Solana still has work to do on the upside.
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