Solana price slips back into old range as $78 support comes into focus

Solana price has turned corrective after losing key support near $88, pushing price back into its previous trading range. The shift in market structure now places $78 support at risk as downside pressure builds.

Solana’s (SOL) recent price action signals a transition away from bullish continuation and back into range-bound conditions. After failing to hold above a major technical level, the market has begun rotating lower, reflecting weakening momentum and growing seller control.

The loss of a key support zone has altered short-term structure, increasing the probability that Solana revisits lower range support before any sustained recovery can develop.

Solana price key technical points

• Lost Support: $88 level flips into resistance alongside the value area high.
• Structural Shift: Price has re-entered its previous trading range.
• Downside Target: $78 aligns with the value area low and high timeframe support.

Solana recently lost the important $88 level, which previously acted as a structural support zone. This area also aligned with the value area high, making it a strong technical confluence region. When price loses a value area boundary, it often signals rejection rather than continuation, forcing markets back toward equilibrium within the established range. The failure to hold above this level confirms that buyers were unable to maintain control following the prior recovery attempt.

With the loss of $88 support, Solana has effectively reverted into its previous trading range. Range environments typically trap price action between clearly defined highs and lows, creating rotational market behavior rather than trending movement. In this case, the range low and major support zone sits near $78, which coincides with the value area low and high timeframe demand.

This comes as Step Finance announced it will shut down its Solana-based platforms following a January exploit that drained roughly $40 million, adding to cautious sentiment surrounding the ecosystem.

Currently, price action is hovering near the Point of Control (POC), the level representing the highest volume traded within the range. The POC often functions as equilibrium between buyers and sellers. Solana barely holding this level suggests market indecision, but it also signals vulnerability. A confirmed close below the POC would indicate acceptance at lower prices, significantly increasing the probability of a move toward range support.

From a market structure perspective, the current movement appears corrective rather than impulsive. Corrective phases typically unfold through gradual rotations toward liquidity pools where demand previously emerged. The absence of strong bullish continuation after losing support further reinforces the corrective bias. Without reclaiming $88 resistance, upside momentum remains limited.

Volume dynamics also support the corrective outlook. The recent decline has not been met with strong accumulation signals, suggesting buyers are waiting at deeper value zones rather than defending mid-range prices. This behavior is common within established ranges, where participants prefer to engage at extremes rather than within the middle of consolidation.

If Solana continues to trade below former support turned resistance, price action is likely to gravitate toward the lower boundary of the range. The $78 level therefore becomes a critical area to monitor. A reaction at this support could trigger a relief bounce or range continuation, while a breakdown below it would expose Solana to a broader structural reset. This comes as Zora expanded onto the Solana blockchain with the launch of its new “attention markets” platform, signaling continued ecosystem development despite the current corrective structure.

Despite the short-term weakness, range environments are not inherently bearish. Instead, they represent periods of market balance where liquidity accumulates before the next major expansion. For now, Solana remains confined within this structure, with directional clarity dependent on either reclaiming resistance or testing deeper support.

What to expect in the coming price action

Solana is likely to continue rotating within its established trading range unless bulls reclaim the $88 resistance level. Failure to hold the POC increases the probability of a move toward $78 support, where the next meaningful reaction is expected to occur.