Solana has bounced hard, but the move still needs proof before traders can call it a real reversal. If SOL fails to flip resistance into support, the chart could shift back toward chop or a deeper macro bottom zone.
Solana’s Macro Bottom Zone Comes Back Into Focus
Solana may still need one deeper move before a stronger recovery begins, with one analyst watching the $58.80-$40.60 area as a potential accumulation zone. If buyers defend that region, the chart suggests SOL could start building a higher-timeframe bottom.
SOL/USD higher-timeframe chart. Source: Minga on X, TradingView
The chart shows SOL following a higher-timeframe corrective structure after completing a previous bullish wave count. Price has already broken down from a broader distribution pattern and is now moving through what the analyst labels as corrective wave C.
Minga said he is still tracking the same higher-timeframe idea and plans to scale into spot between $58.80 and $40.60. That zone is marked as an untapped imbalance area and potential macro bottom region.
The $40.60 level is especially important on the chart because it sits near the lower part of the blue accumulation box. A reaction from that area could support the idea that the broader correction is close to ending.
However, the chart also marks a deeper “max pain” scenario near $21.63. That level remains a lower-risk zone if the $58.80-$40.60 area fails to hold.
For now, Solana’s key test is whether buyers defend the projected accumulation range. A strong reaction from that zone would support the macro bottom case, while a clean breakdown would keep the deeper downside scenario in play.
Solana Bounce Faces Make-or-Break Resistance Test
Solana has hit all four upside targets, but the bounce now needs confirmation at a key resistance box. If SOL cannot turn this area into support, the move could fade into sideways chop or another pullback.
SOL/USD daily chart. Source: Jesse Olson on X, TradingView
The chart shows SOL breaking above a descending trendline after a strong rebound from the June lows. Price has now reached the green target box marked near the upper range of the current move.
According to Jesse Olson, SOL has hit four of four targets. The next test is whether buyers can flip the target box from resistance into support.
That level matters because failed resistance flips often mark the end of a short-term bounce. If SOL rejects from this zone, sellers could regain control and push price back toward lower support.
The chart also shows higher time frame momentum remains bearish. That means the rebound is not confirmed as a full trend reversal yet.
If SOL holds above the target box, the bullish case improves and buyers may try to extend the move. But if price loses this area, the chart points to more downside risk or sideways chop.
For now, the target box is the key line. Solana needs to hold it as support to keep the bounce alive.
