Solana Reclaims $80 Amid Friday Market Bounce – Analysts Set Next Targets

Overview

As the cryptocurrency market experiences a recovery, Solana has rebounded from a significant trendline and momentarily reclaimed a crucial horizontal level. Analysts are divided on the future trajectory of Solana, with some forecasting a retest of key resistance levels, while others caution about the possibility of further declines.

Solana’s Recent Performance

On Friday, Solana experienced a notable bounce, increasing by 10.3% and surpassing the $85 mark for the first time in three days. Throughout the week, the cryptocurrency has been fluctuating between $78 and $88, having briefly dipped to $67 during a market correction last Thursday. The recent volatility led to Solana falling below the $80 threshold, a critical level that has historically acted as both resistance and support.

Today’s rebound has allowed Solana to regain this level, indicating a potential recovery for the cryptocurrency. Market observer Daan Crypto Trades pointed out that for Solana to maintain its upward momentum, it needs to hold above the $80 mark and establish a solid base. This could set the stage for a bullish market structure.

Analyst Ali Martinez noted that sustained buying pressure could drive Solana’s price toward the $88 level, which has not been seen since the beginning of the week. The altcoin has struggled to break through this level since a decline last week, marking it as a key area of short-term resistance. A successful breakout from this zone could pave the way for a retest of the $90 to $96 range, which corresponds with the lows observed in April 2025.

In addition to these observations, Crypto Batman highlighted that Solana is currently retesting a two-year descending trendline on a weekly timeframe. This trendline, which has been in place since early 2024, has been touched multiple times throughout its cycle. Historically, each time the price approaches this level, a significant reversal has followed, marking the bottom of major corrections.

Potential Downside Risks

Despite the optimistic outlook from some analysts, there are warnings regarding potential bearish scenarios for Solana if buying momentum falters. Altcoin Sherpa cautioned that if selling pressure intensifies, Solana could fall to $50. The cryptocurrency has already lost the 200-week Exponential Moving Average (EMA) and the lows from April 2025, making it critical to hold the recent local range lows.

Sherpa emphasized that if Solana fails to maintain the $77 to $78 price range, the next major historical support could be around $51, which corresponds to a breakout area from November 2023. Meanwhile, market analyst Crypto Bullet expressed concerns that Solana’s bottom may not be reached yet, suggesting that investors who entered positions at higher levels might remain trapped for an extended period.

From author

The current dynamics surrounding Solana illustrate the volatility inherent in the cryptocurrency market. While there are signs of recovery, the mixed sentiments among analysts highlight the uncertainty that persists. The importance of maintaining critical support levels cannot be overstated, as they may dictate the future direction of Solana’s price.

Impact on the crypto market

• Solana’s recovery could influence overall market sentiment, potentially attracting more investors.
• The struggle to maintain key support levels emphasizes the volatility and risk associated with altcoins.
• A breakout above $88 could signal renewed bullish momentum, affecting trading strategies across the market.
• Conversely, a failure to hold above $80 may lead to increased bearish sentiment, influencing other cryptocurrencies.
• Analysts’ divided opinions reflect the broader uncertainty in the crypto market, impacting investor confidence.