Solana, Survival Game at $79 Support Line..."If it collapses, a bloodbath in the $20s"

▲ Solana (SOL)/ChatGPT generated image

Solana (SOL) is showing a trend of holding above its key support line that has lasted for years, preparing for the next upward breakout attempt.

According to crypto media outlet NewsBTC on May 29 (local time), Solana is defending its multi-year support zone around $79. While months of sideways movement and repeated breakout failures have continued, recent accumulating buy signals are growing, raising the possibility of the next upward attempt.

Strategist Scient presented $79, the 2024 low, and $210, the 2021 altseason high, as key price levels dividing Solana's macro structure. $210 is a zone where the market attempted recovery three times but was pushed back each time. After the second rejection, about a year of sideways movement followed, and after the third breakout failure in September 2025, selling pressure intensified, pushing the price back down to the 2024 low.

Scient analyzed that Solana is currently showing a clear accumulation trend near its historical lows. He suggested that if Solana forms a bottom at the $80 level, it could create a structure similar to how Ethereum (ETH) secured support during past bear market cycles.

The $79 to $80 range is considered the last line of defense for Solana's price structure. As long as this support line is maintained, the bullish scenario remains alive. Conversely, a warning has been issued that if the price falls below this range, it could drop significantly to the mid-$20s.

On the daily chart, a second bullish retest was confirmed after breaking out of a long-term downtrend line. Scient explained that a clean rebound occurred during this retest of the trendline, which can be seen as a trend reversal confirmation signal for technical traders. A significant portion of the trading volume from previous highs has also been absorbed, and current market activity is concentrated in this area.

NewsBTC reported that there isn't much clear resistance from the current level up to $120. Analysis suggests that since the overhead supply burden is not significant, there is room for the price to quickly pass through this empty zone. With the long-term support defense on the weekly chart and the breakout of the downtrend on the daily chart converging, market attention is focused on Solana's next direction.

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