Solana (SOL) is attempting to consolidate its position after its long-term downtrend, as analysts predict the current selloff is nearing its conclusion. The asset is creating higher lows around the key support area, indicating the early stages of its recovery process.
At the time of writing, Solana (SOL) is trading at $87.64 with a 24-hour trading volume of $9.99 billion and a market capitalization of $49.91 billion.
The price of SOL has increased by 4.70% over the last 24 hours. The move occurs as the altcoin market seeks to stabilize, with investors observing Solana’s ability to maintain its run after weeks of selling pressure.
Source: CoinMarketCap
Solana Moves Higher After Selloff
On March 2, 2026, crypto analyst BitGuru stated that the SOL/USD pair may have exited its corrective phase and entered a consolidation period. He based this assessment on the formation of higher lows near a defined support area, which indicated weakening selling pressure.
Source: X
However, if bullish momentum continues, the price could move toward the $95–$100 range, which now acts as a key short-term resistance zone. Market participants note that a price breakout accompanied by rising volume would be required to confirm trend continuation rather than a temporary relief rally.
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Solana Technical Analysis Below Key Averages
Solana (SOL) is currently trading around $87.29, while the RSI is currently at 47.68, which is a neutral zone and not showing any strong buying signals yet.
The stock is currently trading around the short-term MA level of $83.59 and is still quite far from the 50-Day SMA ($103.66), 100-Day SMA ($117.73), and 200-Day SMA ($156.34) averages.
Source: TradingView
On the MACD chart, the indicator is rising slightly into the positive zone at 1.80, although it is still below the signal line at -4.29, having fallen as low as -6.10 on the histogram. This suggests that the pressure of the bears is easing somewhat, although the bulls have not yet taken full control.
For now, Solana seems to be in a technical state of recovery rather than a trend reversal. A break past the resistance level would help the bullish cause, while not holding the support level would make the asset more prone to price volatility.
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