Solana (SOL) is undergoing a significant pullback, testing crucial micro support zones that will determine the short-term trend direction. According to analysis from More Crypto Online, SOL is trading near $83.53 after retreating from a recent local high. The price is now approaching a primary support band between $81.75 and $80.53.
This zone is critical as it aligns with several Fibonacci retracement levels. The current structure suggests this drop could still be part of a wave two correction, provided buyers defend support and the price remains above the deeper invalidation point at $78.81. A break below this level would weaken the current bullish wave count and strengthen the case for a broader pullback.
Simultaneously, SOL has lost its rising short-term support line, indicating weaker momentum. Traders are closely monitoring whether the price stabilizes within the identified support band or continues to decline toward the high $78 area.
In a separate analysis, BitGuru presents a more optimistic view, arguing that Solana has transitioned from breakdown fears to a cleaner recovery structure. The chart shows SOL rebounding after a late March decline, entering consolidation, and then breaking higher. The current pullback from a recent high near $90.95 has brought the price back toward the mid-$85 range.
The key bullish argument hinges on SOL holding above a marked reversal zone near $82. As long as this area remains intact, the pullback is viewed as a retest within an uptrend rather than a fresh bearish breakdown. The earlier fall from around $93.45 formed the base for this structure, with Solana subsequently building higher lows. If support holds, the door remains open for another move toward recent highs. A failure would necessitate a reassessment of the bullish setup.
