Solana is trying to establish a short-term bottom after recovering from the $74-$75 support region, with two technical setups pointing to renewed upside if buyers maintain control. SOL could first challenge resistance near $78, while a stronger continuation would bring the larger $82 level into focus.
Solana Tries to Build a Higher Low Above the $74 Support Zone
Solana is attempting to stabilize after its recent pullback, with the one-hour chart suggesting that the correction may be forming a local low. The key question is whether SOL can hold the mid-$74 area and resume the rebound that followed its breakout above the descending trendline.
Solana 1-Hour Elliott Wave. Source: More Crypto Online (@Morecryptoonl) on X
SOL was trading near $76.04 on the chart after rebounding from a short-term corrective zone between roughly $74 and $75. The chart marks Fibonacci retracement levels at $75.29, $74.72 and $74.14, corresponding to the 38.2%, 50% and 61.8% retracements of the preceding advance.
That area is important because the analyst's Elliott Wave count shows the latest decline as a possible wave 4 correction. SOL briefly tested the lower part of the retracement range before recovering above $76, supporting the idea that a short-term low may be developing.
The broader structure has also improved after Solana moved above the descending trendline that had capped price since July. If the $74.14-$75.29 region continues to hold, the chart leaves room for another leg higher, potentially completing a fifth wave. The first obstacle is the recent swing high around the upper-$77 area, while the chart identifies a larger resistance level at $82.05.
However, the bullish setup remains conditional. A sustained break below $74.14 would weaken the immediate wave-4 interpretation and increase the risk of a deeper retracement. The chart highlights $71.17 as the next major support, followed by $68.42 and $64.69 if selling pressure accelerates.
For now, Solana's recovery above $76 keeps the short-term rebound scenario intact, but buyers still need a decisive move through the recent highs to confirm that the correction has ended.
Solana Holds Key Support as Traders Watch a Move Toward $78
A second short-term Solana setup points to the $74.70-$74.80 area as an important support zone, with SOL recovering after briefly sweeping below it. The chart maps a potential rebound toward the upper-$77 region if buyers continue defending that base.
Solana 45-Minute Support. Source: LSTRADER (@LSTraderCrypto) on X
The 45-minute SOL/USDT chart shows Solana trading near $75.80 after a sharp dip beneath a support band around $74.70-$74.80. Price quickly recovered back above the zone, creating what the analyst views as a possible liquidity sweep — a move below support that draws in sellers before price reverses.
That reaction strengthens the importance of the $74.70-$74.80 area in the immediate setup. The chart's projected path allows for some consolidation around the mid-$75 range before a stronger advance develops.
If buyers maintain control, the next area to watch sits around $76.70-$76.90, where the projected path shows another possible pause or pullback. Beyond that, the main upside objective is the dashed resistance line just below $78, which also lines up with an earlier local high visible on the chart.
The analyst describes that upper level as the target for a potential move into previously established liquidity. However, the forecast remains conditional rather than confirmed. SOL still needs to build momentum above its recent short-term highs before the projected advance toward $78 gains stronger technical support.
On the downside, another sustained move below the green support zone would weaken the rebound scenario. The chart does not provide a specific invalidation price, so the key signal is whether SOL can continue holding the reclaimed $74.70-$74.80 region.
