Solana is trying to end a record run of 10 consecutive monthly losses while challenging a descending trendline near $74.40. A confirmed breakout could lift SOL toward $77.40 and $79, but failure to hold nearby support would keep the broader bearish trend intact.
Solana Tries to End a Record 10-Month Losing Streak
Solana’s monthly chart shows 10 consecutive red candles, the longest such streak in the chart’s history, according to Nebraskangooner. SOL is trading near $74.20 in the incomplete August candle, putting the market at a key test after a prolonged decline from the late-2024 peak.
Solana Monthly Chart. Source: Nebraskangooner (@Nebraskangooner)
The chart confirms that Solana has remained under steady selling pressure for most of 2026. Price has fallen from above $180 at the start of the year toward the mid-$70 area, while each completed monthly candle during the streak closed below its opening level.
August could break that pattern, but the current candle remains unfinished. SOL would need to close the month above its August opening price of roughly $72.87 to print a green candle and end the record run of monthly losses.
The first recovery test sits near $80-$85, where several recent monthly candles found temporary support before price moved lower. A sustained break above that area could open a move toward $100, which now stands as a more important psychological and chart resistance level.
However, the broader structure remains bearish. Solana trades below both trend lines shown on the chart, and those lines continue to slope downward. That positioning suggests sellers still control the longer-term trend despite the possibility of a short-term rebound.
On the downside, the $70 area is the immediate level to watch. A monthly close below it could expose support near $60, while a deeper breakdown would place the late-2023 breakout region around $40-$50 back in focus.
The practical takeaway is that ending the red-candle streak would improve short-term sentiment, but it would not confirm a full trend reversal. Solana must first hold above $70, reclaim $80-$85 and then recover $100 to show that buyers are rebuilding control.
Solana Tests a Descending Trendline Near $74.40
Solana is pressing against a descending trendline near $74.40 after recovering from support around $72. According to TraderSZ, a confirmed breakout from the current area could open a move toward liquidity near $79, while a drop below nearby support would weaken the short-term recovery.
Solana Two-Hour Chart. Source: TraderSZ (@trader1sz)
SOL trades near $74.37 on the two-hour chart, where the descending trendline meets a horizontal resistance area. This overlap makes the current zone an important test for buyers because price must break both barriers to extend the rebound.
The first confirmation would be a sustained move above the trendline and the nearby $74.40 region. Buyers would then face resistance near $75.69, followed by the larger supply zone around $77.40. Clearing those levels could create room for a move toward the stop-liquidity area near $79 identified by TraderSZ.
However, the chart has not yet confirmed a full bullish breakout. Solana has briefly moved above the descending line, but buyers must hold the advance rather than allow price to fall back into the recent range.
The gray level near $73.97 is the main short-term pivot. A two-hour close back below that area would suggest the breakout attempt has failed and shift attention toward support near $72.81.
Below that level, the chart highlights a support cluster around $72.17-$72.26. Losing this area could send SOL back toward the Monday low referenced by TraderSZ, while a deeper breakdown would expose the major range support near $70.55.
The practical takeaway is that Solana has reached a possible breakout point, but confirmation remains essential. Holding above $74.40 would favor targets at $75.69, $77.40 and potentially $79, while a loss of $73.97 would increase the risk of a return toward the low-$72 area.
