- Solana (SOL) is between $72 support and $76 resistance.
- Solana’s price action shows a strong trend that could be resisted in the short term.
- $90 is still the most important level for a strong move.
Solana has returned above the level of $ 74 after a period of side trading, putting the stock near the most important point that traders have been looking for for several days.
The recent gains come after a slow recovery from the lows of $70, where the price repeatedly found support before rising.
Is this a correction within the main bearish trends?
Recent price action shows Solana stuck within a familiar range between $62.08 and $76.00.
This has become a huge battleground for buyers and sellers, with repeated close calls from both ends.
On the downside, support has been consistently seen around $69.50 and $62.08, while buying interest has prevented a major decline.
On the upside, resistance is combined between $76.00 and $83.00, a region that has resisted further testing in recent sessions.
Some short-term analysis, however, suggests that this move to the upside may be part of a larger correction phase within a larger bearish pattern.
The analysis of the market shows the possibility of a small squeeze in the $76 area, followed by a rejection if the bulls fail to overcome the resistance.
If the price is rejected from this area, the downward pressure may return quickly, with the first support at $ 69.50, followed by the lower limit near $ 62.08.
The price range of $76–$90 is now the most important area
Although the short-term resistance is around $76, the long-term analysis places the most important level at the $90 level.
This region has been shown as a starting point that can determine whether Solana will evolve into a high-rise or remain integrated.
A move above $90 could open up a range of $100 to $114, which has been identified as the next liquid level in the highs.
However, failure to breach this level may cause the stock price to remain in the control zone.
At the same time, one technical interpretation shows that this movement is still part of a resistance rally within the main bearish cycle in crypto market.
In this context, moving up to the hybrid zone is seen as a temporary expansion that creates liquidity before it happens.
The conflict between the possibility of a slowdown and the continuation of the bearish has led to the division of the expectations of experts.
The $90 level now acts as the line between continuing recovery and consolidation.
Morgan Stanley’s Solana ETF adds optimism
Beyond the technical level, corporate events are also shaping opinion around Solana.
Morgan Stanley says that they will file forward they want to place Solana and Ethereum exchange-funds (ETFs, and the management fees they want are 0.14%, which will put them among the cheapest crypto ETFs currently in consideration.
The structure of the proposed products also includes accounting methods, in which most of the reinvested funds will be returned to the investors after payment.
Although these ETFs have not yet been approved, the documents show institutional interest in Solana’s exposure through investment strategies.
