Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Solana (SOL) is flashing warning signs after a sharp rejection at the $92–$94 supply zone halted its recent upside attempt. Momentum has quickly faded, with price now slipping back toward key support levels as sellers tighten their grip. With SOL caught between a weakening structure and critical support below, the risk of a deeper breakdown is growing, making the next move a decisive one for short-term direction.
Solana Stuck In A Tight Range As Pressure Builds
Ali Martinez highlights that Solana remains stuck within a well-defined consolidation channel, with price action compressing after months of sustained pressure. SOL’s price has now drifted toward the lower boundary of this range, and the next 48 hours could be pivotal in shaping the broader trend for the rest of April.
The current channel structure is clearly defined, with resistance sitting at $96.04 and support established at $76.66, while price hovers around $79.11. Trading near support often signals a moment of truth, where either buyers step in to defend the level, or sellers take control and force a breakdown.
If the $76.66 support level holds firm, a classic double bottom or channel bounce scenario could emerge. Such a move would likely spark a relief rally, with upside targets at $81.00 and then $85.00, where the 50-day SMA presents a key resistance zone that could slow momentum.
On the flip side, a decisive daily close below $76.66 would invalidate the channel structure and confirm bearish pressure. In that case, downside targets come into focus, with a potential drop toward the year-to-date low at $68.54 and possibly even the psychological $50 level.
SOL Holds Steady Within Accumulation Range
In a recent Solana daily update shared on X, analyst R4 XBT highlighted that the asset remains firmly within an accumulation phase. Despite broader market fluctuations, Solana’s price action is currently being sustained at the 50-day Moving Average (MA50). This specific level is serving as a critical foundation for the current price structure, keeping the long-term bullish thesis intact while the market consolidates.
The current positioning at the MA50 represents a pivotal technical test for the token. Currently, the market is closely watching this zone to determine whether the current accumulation period has sufficient strength to support a successful liftoff.
If Solana successfully clears the MA50 resistance, it could signal the end of the consolidation period and a breakout from the accumulation zone. Overcoming this hurdle would likely clear the path for more significant upside potential. Traders are currently seeking a decisive close above this level to confirm that the path for a sustained rally has finally been opened.
Featured image from iStock, chart from Tradingview.com
My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.
My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.
I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.
When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.
Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.
My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.
Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.
One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.
I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.
I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.
I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
