Solana is sitting between a possible rebound and a deeper breakdown as two widely shared charts now show very different paths. One points to a recovery if support holds, while the other warns that a bigger drop could follow if the broader structure stays broken.
Solana Holds Key Fib Support as $72 Level Stays in Focus
Solana is trying to stabilize after a deep correction from its recent peak, according to chart analysis shared by Crypto Patel on X. The two week SOL/USDT Binance chart shows the asset falling about 77% from the area near $295 to the high $60s before rebounding from a key Fibonacci retracement zone.
Solana Fibonacci Support and Long Term Projection. Source: Crypto Patel on X
The chart marks the 0.50 Fibonacci level near $72.55 as an important support area. So far, Solana has bounced from that zone and is trying to hold above it. That matters because the same area now acts as a line that could decide whether the latest move becomes a broader trend reversal or only a short relief bounce.
Crypto Patel said a hold above $72 would support a bullish shift, and the chart reflects that setup. It also highlights the 0.618 retracement near $52.11 as the next major downside level if support fails. In that case, the chart suggests a possible move into the sub $50 area, which the analyst described as an ideal long term accumulation zone.
On the upside, the chart shows a major resistance band between roughly $200 and $250, with the prior peak near $294.78 still marked above that range. Beyond that, the long term projection on the chart points to higher targets near $500 and even $1,000, though those levels depend on Solana first reclaiming resistance and confirming a larger reversal.
For now, the main signal remains simple. Solana has bounced from a critical support zone, but the structure still depends on whether it can keep defending the area above $72. If it does, the chart leaves room for a stronger recovery. If it breaks, the focus shifts lower toward the next retracement support.
Solana Breaks Key Support as $42.5 Downside Target Comes Into Focus
Solana has fallen below a major support level after trading inside a broad consolidation range, according to chart analysis shared by Aksel Kibar on X. The weekly SOL/USD Coinbase chart shows a breakdown from a structure that held through much of the previous cycle.
Solana Weekly Structure Breakdown. Source: Aksel Kibar on X
The chart marks two main horizontal levels: resistance near $247 and support near $112. Solana moved between those levels for months while forming a narrowing pattern. However, the latest drop below $112 now points to a structural breakdown on the weekly timeframe.
Aksel Kibar’s chart shows a projected downside target near $42.5 if the breakdown continues. That level sits far below the prior range and suggests a much deeper retracement on the broader chart.
The pattern also shows repeated weakness near the upper boundary. Each rebound failed before reaching a new high, which gradually weakened the structure before the latest selloff.
For now, the key signal is the loss of the $112 support zone. If Solana remains below it, the chart keeps the $42.5 downside target in focus.
Source: https://coinpaper.com/15251/two-solana-charts-tell-completely-different-stories-one-points-to-42
