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Solana<a href="https://yellow.com/asset/sol" rel="noopener noreferrer nofollow">(SOL)</a> is trading near $87 inside a months-long range, and analysts say a short relief rally may form before the market commits to its <a href="https://yellow.com/news/solana-breakout-signal-analysis" rel="noopener noreferrer nofollow">next major move</a>.
<h2 id="solana-recovery-scenario-takes-shape">Solana Recovery Scenario Takes Shape</h2>
Two technical desks tracking SOL on lower timeframes argue the coin is setting up a corrective bounce rather than a clean trend reversal. Elliott Waves Academy<a href="https://x.com/waves_academy/status/2057429050298179801?s=20" rel="noopener noreferrer nofollow">identifies</a> a potential short-term recovery on the 1-hour chart, modeling the move as a complex double zigzag.
The setup needs confirmation. A decisive break above the upper edge of the current diagonal pattern, plus a clearing of resistance tied to the prior bearish wave, would <a href="https://www.newsbtc.com/analysis/solana-sol-drops-into-bearish-zone-key-supports-come-under-threat/" rel="noopener noreferrer nofollow">strengthen</a> the case for the upward correction.
The relief rally targets the 50% to 61.8% retracement zone of the recent decline, with room to <a href="https://www.newsbtc.com/news/solana/solana-temporary-recovery/" rel="noopener noreferrer nofollow">stretch</a> toward the 78.6% level. If renewed selling appears instead, that zone becomes a focus for sellers, while a run of higher lows would tilt the bias back toward sustained upside.
Also Read:<a href="https://yellow.com/news/bitcoin-bull-market-missing-clearest-signals" rel="noopener noreferrer nofollow">Bitcoin Bull Market Still Missing Its Clearest Signals, Analyst Warns</a>
<h2 id="sol-stuck-inside-range-structure">SOL Stuck Inside Range Structure</h2>
MCO Global DE<a href="https://x.com/morecryptoDE/status/2057710552089309688?s=20" rel="noopener noreferrer nofollow">noted</a> that Solana keeps trading sideways within the same broad structure that has governed price action for several months. The analysts said the market still lacks a convincing breakout signal, and recent moves remain dominated by short-term noise.
Their leading scenario holds. Immediate support sits around $81.28, with deeper support regions between $71.92 and $77.96, and another brief dip cannot be ruled out before SOL attempts a renewed recovery within the larger B-wave.
The desk also <a href="https://coincodex.com/crypto/solana/price-prediction/" rel="noopener noreferrer nofollow">warned</a> that the market stays exposed to a deeper correction as long as resistance near $96 stays intact, with $110 marking the next hurdle above it. Until buyers clear those levels, the broader outlook is expected to stay cautious and neutral, the analysts said.
The cautious framing reflects a difficult stretch for SOL. The token has spent recent weeks pinned in the low-to-mid $80s after an April decline, and it currently trades roughly 70% below the $294.87 record set in January 2025, leaving the recovery question unresolved.
Read Next:<a href="https://yellow.com/news/ethereum-1-billion-rescue-fund-feist" rel="noopener noreferrer nofollow">Ethereum Needs A $1B Rescue Fund, Former Researcher Argues</a>

Solana Bounce Could Fade Quickly Unless Buyers Crack $96 Soon

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Other articles published on May 23, 2026

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