Solana (SOL) is testing a major support zone between $55 and $70, trading near $68 after declining toward the lower boundary of a multi-year megaphone pattern that has developed since 2024. This support area has historically produced price rebounds, and analysts are monitoring whether buyers will defend this level or if the decline will extend further. The current price action follows months of sideways movement and represents a critical juncture for the cryptocurrency's technical structure.
Solana Tests Lower Boundary of Multi-Year Megaphone Pattern
The weekly chart shows SOL near $68 after falling toward the lower trendline of an expanding structure that has formed since 2024. Previous touches of this boundary produced rebounds, according to technical analysis shared by CryptoCurb. The megaphone pattern—characterized by widening price swings between converging trendlines—has contained Solana's price action across multiple market cycles.
SOL is currently trading near the lower boundary of this pattern, an area that technical analysts consider a potential inflection point. The $55–$70 region has acted as support during prior tests, though historical pattern behavior does not guarantee future price movements.
Support Zone at $55–$70 Shows Historical Rebound Activity
The daily chart indicates SOL trading at $68.70, close to a support region that also functioned as a major breakout area during the previous market cycle. Price has briefly moved below the recent consolidation range but remains above the lower edge of the wider support zone spanning $60–$70.
The Relative Strength Index (RSI) has recovered to around 41 after reaching oversold levels in recent periods. The chart shared by analyst Aman highlights two recent RSI lows, suggesting that selling pressure may be diminishing. However, RSI recovery alone does not constitute confirmation of a trend reversal.
A sustained break below the $50–$60 support zone would invalidate the current base-building scenario and increase the probability of further declines.
Analysts Project Recovery Targets Contingent on Pattern Breakout
CryptoCurb projects that a recovery from current levels could take Solana toward $100, followed by the $200–$300 area. The larger bullish setup would require SOL to break above the pattern's upper trendline, which could reach approximately $400 as the structure develops over time.
A confirmed breakout from the megaphone pattern could open the path toward a long-term target above $1,000, though CryptoCurb characterizes this as a highly speculative projection rather than a confirmed price objective.
For the bullish scenario to materialize, Solana must first recover into the recent consolidation range and reclaim the $90–$100 area. Analyst Aman's chart suggests that a successful breakout could lead toward $120–$150, followed by a broader projection near $220–$240.
If SOL loses the lower trendline and closes below approximately $55, the bullish pattern structure would weaken considerably. The $55–$70 zone remains the immediate support area under observation, while $100 represents the first major resistance level that buyers need to reclaim for a recovery scenario to gain credibility.
FAQ
What price level is Solana currently testing?
Solana is trading near $68 and testing a support zone between $55 and $70, which marks the lower boundary of a multi-year megaphone pattern that has developed since 2024.
What are analysts projecting for Solana's price recovery?
CryptoCurb projects that a recovery could take SOL toward $100, then $200–$300, with a potential upper trendline breakout near $400. A long-term speculative target above $1,000 has been identified, though this remains highly speculative. Analyst Aman suggests targets of $120–$150 followed by $220–$240 if the current support holds and price reclaims the $90–$100 area.
What would invalidate the bullish pattern for Solana?
A sustained break below the $50–$60 support zone would weaken the base-building scenario and invalidate the bullish megaphone pattern structure, increasing the risk of further price declines.
