Solana price action signals early structural recovery as it hovers near $84

Solana’s recent price action has started to shift market sentiment, with analysts pointing to early signs of a structural recovery after months of pressure. The asset trades near $84, holding firm above key support while gradually reclaiming lost ground. Traders have begun reassessing bearish expectations as technical patterns suggest a transition from accumulation toward expansion.

Rounding Bottom Signals Strength

Analyst Gordon said Solana has formed a rounding bottom on the 4-hour chart. The pattern is often associated with a shift from selling pressure to steadier accumulation. Price has continued to print higher lows in the $78 to $80 range, suggesting demand strengthens with each pullback.

Near-term resistance is seen around $85, followed by $88 and the critical $90 level. A decisive move above $90 could build momentum toward $95 and $100 and confirm a shift in short-term structure.

Support at $82 and $80 remains important for maintaining the current trend. Despite the improving setup, some traders still expect a deeper decline toward $40, reflecting lingering bearish sentiment.

Long-Term Accumulation Strategy Emerges

Analyst cryptokans outlined a broader accumulation plan focused on lower price zones. The analyst highlighted the $50 to $60 range as a high-probability demand area, citing historical price behavior that may support liquidity sweeps into that zone.

With price compressing near $79, the market appears indecisive between buyers and sellers. A temporary move lower could attract long-term investors, with the strategy emphasizing gradual accumulation rather than aggressive entries. The approach is also framed as consistent with expectations for strong large-cap performance in future market cycles.

Descending Channel Supports Macro Outlook

James argued that SOL is unlikely to drop to zero under the current structure and projected potential expansion toward $1,000 in future cycles. While price continues to form lower highs, it also maintains a stable base.

Support is described as firm between $80 and $67, with deeper demand near $60 and $50. Resistance is expected to extend from $90 to $100, with stronger barriers at $112 and $150. A breakout above $150 would be viewed as a major structural shift and could open the path toward sustained upside expansion, as ongoing consolidation is presented as a foundation for long-term growth.

Market Snapshot

As of press time, Solana trades at $84.23. The market cap is above $48 billion, and the asset has gained over 5% in the past week.