 ▲ Solana (SOL) / AI-generated image |
Solana (SOL) is signaling the long-awaited trend reversal after shaking off its recent sharp decline.
According to crypto media outlet The Crypto Basic on February 27 (local time), Solana is attempting a strong rebound from a key support level. The Parabolic SAR indicator has shifted below the price to $75.67, suggesting that bearish momentum is weakening and buyers are beginning to regain control of the market. Although Solana suffered a 28.8% decline over the past month, it has recently formed a base near $80 and is showing signs of establishing a higher low.
The Stochastic RSI indicator, which complements the Relative Strength Index (RSI), is currently around 88, entering overbought territory and confirming strong short-term upward momentum. However, from a moving average perspective, Solana remains below its 50-day moving average of $111.6 and 100-day moving average of $129.6, making it essential to reclaim these levels to confirm a true bullish market entry. Technically, Solana is compressing energy at the end of a falling wedge pattern, approaching a critical point ahead of a volatility expansion.
The immediate resistance level capping further gains is set at $91.69, the midpoint of the Bollinger Bands. If buying pressure decisively breaks through this barrier, the next target range is projected between $97 and $100. However, if the $80 support level fails and the price falls below $78, there is a risk of retracing to the $68 region, prompting investors to closely monitor daily closing prices for confirmation of support.
Market sentiment remains in extreme fear territory, but institutional inflows into exchange-traded funds and improving on-chain metrics are reinforcing the bottom-formation hypothesis. Volatility indicators such as the Average Directional Index remain at low levels, signaling a calm before the storm. If Solana maintains its current upward momentum and decisively breaks above the $92 resistance, it would provide technical confirmation that the downtrend of recent weeks has officially ended.
Ultimately, Solana’s near-term trajectory hinges on whether it can reclaim the $90 level and how quickly it recovers its key moving averages. It remains to be seen whether this rebound is merely a technical bounce or the beginning of a new bull market. Market participants are watching closely to see if Solana will ignite a major rally in the first half of 2026.
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