SOL Technical Analysis
On the Solana side, network congestion and outage discussions have recently come back into focus. Especially with increasing transaction volume, periods of slowdown and performance issues have raised questions about the network’s scalability. Despite this, high activity continues on the DeFi and meme coin side within the Solana ecosystem. This shows that usage remains strong while the infrastructure is under pressure. Therefore, it is important to observe how this increasing usage and pressure are reflected in price action on the technical chart.
On the technical side, SOL price has been moving within a rising wedge structure for a while. Lows are rising, but the upper side is not expanding much. In other words, price is moving upward but is getting compressed into a narrower range. This usually indicates that the uptrend is struggling.
Currently, the price is around 86–87 dollars and has pulled back toward the lower band of the wedge. This area is important in the short term because reactions have come from here before. Buyers usually step in around this trendline.
On the upside, the 90–94 dollar range stands out. Each time price approaches this area, it faces selling pressure. If another upward attempt comes, this region needs to be broken. If price manages to hold above it, the 97 dollar area comes back into focus.
However, the sensitive point is on the downside. If price drops below the lower trendline, this structure starts to fail. In that case, the move may accelerate downward, and 84 dollars, followed by the 81–77 dollar range, may come back into discussion.
Looking at the overall picture, price is still within an upward sloping structure, but the movement is not comfortable. Lows are rising, but the upper side constantly faces pressure. For this reason, in structures like this, the risk of a downside breakout is always present. Whether the lower trendline holds will be decisive.
These analyses do not provide investment advice and focus on support and resistance levels that are considered to offer short- and medium-term trading opportunities depending on market conditions. However, responsibility for execution and risk management lies entirely with the user. In addition, the use of stop loss is strongly recommended.
