Solana (SOL) Price Prediction: Consolidation Expected as Downtrend Persists

Solana is currently trading around the $83.00 mark and continues to struggle for momentum on the lower timeframes. As highlighted in our previous analysis, SOL has found support in the $75.00 to $80.00 region and appears to be bouncing from this zone. However, the bounce lacks strength and price action remains sluggish, resulting in a period of consolidation at current levels. With the crypto market experiencing heavy selling pressure throughout February, conditions are now showing signs of stabilization as bears appear to be exhausting. This could pave the way for either a short-term relief rally or continued consolidation as SOL pushes deeper into oversold territory. Let's take a closer look at the latest SOL charts to see where the price could be headed in the coming days.

Our Solana Price Prediction Summary

• Solana is consolidating between $75.00 and $100.00 in the short term with oversold conditions providing some relief from recent selling pressure.
• The downtrend on the daily timeframe remains intact with SOL struggling to gain any meaningful momentum over the past few months.
• SOL has broken below the critical $100.00 weekly level and continued closes below this zone could lead to further downside ahead.

Analyzing the Charts

Consolidation Between Support and Resistance

Looking at the 4-hour chart, SOL has established solid support in the $75.00 to $80.00 region and is currently bouncing from this zone. After the initial bounce, price found immediate resistance at the $90.00 level and has been unable to push through convincingly. With bears taking a breather, some bulls are stepping in but the lack of momentum is clearly visible in the price action. For now, we can expect SOL to continue moving between these levels as the market attempts to stabilize. However, a push toward $100.00 remains possible in the short term, and the broader consolidation zone we are watching sits between $75.00 and $100.00 as the market tries to recover from recent losses.

Downtrend Persists on the Daily Chart

Switching to the 1-day timeframe, the picture remains decidedly bearish as SOL continues to print lower highs and lower lows. Solana has been struggling for months now alongside the broader crypto market, with little to no real momentum building over this period outside of brief consolidation phases. However, with bears pushing the price into oversold territory, some form of consolidation at current levels appears likely. While a relief rally is technically possible given the oversold conditions, it seems unlikely at the moment due to the lack of buying momentum. The most probable scenario in the short term remains range bound trading between the $75.00 and $100.00 zone as the market continues to search for direction.

Weekly Chart Shows Critical Level Break

The 1-week chart paints a similarly bearish picture as SOL remains below the $100.00 mark, a major level that previously acted as support during the last major bear cycle. Continued weekly closes below this zone would greatly increase the probability of further correction, potentially bringing even lower levels into play for SOL. The weekly RSI is approaching oversold territory which suggests there may be some breathing room before the next leg down materializes, but this does not change the overall outlook. Our Solana price prediction continues to lean toward the bearish side given the current technical structure.

Final Takeaway: What is Next for Solana?

Solana remains under pressure across all timeframes with the overall structure continuing to favor the bears. In the short term, SOL is likely to consolidate between the $75.00 and $100.00range as oversold conditions provide some temporary relief from recent selling pressure. The daily chart continues to print lower highs and lower lows, reflecting the lack of momentum that has plagued SOL for months now. On the weekly timeframe, the break below the critical $100.00 level is concerning and continued closes below this zone could lead to further downside. While oversold readings on both the daily and weekly charts suggest some stabilization may be ahead, the broader technical picture remains weak and our outlook continues to favor caution for SOL in the near term.