Solana (SOL) narrowly avoided a major breakdown in early June, leaving traders wondering whether this marks the beginning of a real trend reversal or just a temporary bounce. The next few days will show whether the Solana price recovery can last or if more losses are ahead.
For months, SOL traded between $73 and $100 before dropping sharply in early June. The sell-off pushed the SOL price down to $60, clearing out many recent buyers. After this drop, both large and small investors started buying again at this key support level.
After hitting its June lows, SOL has bounced back with about a 23% rally. Right now, Solana is trading at around $74.33 on Binance, slightly above its opening price of $73.22. Today’s trading has stayed between $72.75 and $74.68.
The $73 Support-Turned-Resistance: Solana’s Line in the Sand
From a technical analysis perspective, the $73 level is a key level for buyers and has served as Solana’s main support from February to May.
When the Solana price fell below $73 in June, that level became strong resistance. Closing above $74 on the daily chart would suggest the June drop was just a bear trap, not a sign of further decline. However, if momentum fades, the price could fall back toward the $60 level.
Momentum indicators back up this short-term bullish move. The 20-period Relative Strength Index (RSI) dropped to around 21 during the June sell-off but has since bounced back and is now forming a tightening wedge.
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Right now, the RSI is at 48.45, with its signal line at 39.77. This pattern suggests volatility could increase soon, and the Solana price may be preparing for a strong move.
Solana Price Forecast: $79.85, $90, and the $100 Ceiling
The next big challenge is just above. The 50-day simple moving average (SMA) at $79.85 has guided SOL’s trend since February and matches a key price level.
Technical analyst Altcoin Sherpa urged caution to his followers, noting that despite Solana’s strong structural fundamentals, the asset remains “trash on high time frames” until it proves it can print a structural shift. He remains on the sidelines, waiting for a definitive $77 reclaim before looking for long-term long entries.
Another cryptocurrency analyst, EliZ, views the current Solana price action as strictly range-bound, noting the absence of a clear macro trend. He is closely monitoring the $82–$90 weekly supply zone, which is flipping from resistance to support.
However, he remains fundamentally bullish on the ecosystem, arguing that once broader market momentum returns, the Solana network will lead on-chain volume flows, with Solana meme coins likely attracting the heaviest speculative capital inflows.
Right now, the Solana price outlook depends on a few key levels. If it holds $73 and moves above $79.85, it could head toward $90 and possibly $100, which has been a tough barrier all year. If it drops below $73, the price may fall to the $67–$68 area before buyers step in again. A daily close below $60 would completely destroy the bullish recovery thesis and open the door for a deeper macro correction, potentially to the majr $50 support.
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