Two Solana Charts Send Opposite Signals as $72 Support Holds but $42 Target Emerges

• Solana is attempting to stabilize after a steep correction from its recent peak.
• A Fibonacci analysis shows $72 as a key support level that could determine the next trend.
• Another chart warns of a potential $42.5 downside target after a structural breakdown.

Technical charts for Solana are currently sending mixed signals, highlighting the uncertainty surrounding the asset’s next move.

While one analysis suggests the cryptocurrency is trying to stabilize after a sharp correction, another chart indicates a potential breakdown that could send prices significantly lower.

Solana Holds Key Fibonacci Support

Solana has dropped sharply from its previous peak near $295, falling roughly 77% before rebounding in the high $60 range.

The two week SOL/USDT chart highlights the 0.50 Fibonacci retracement level near $72.55 as a critical support zone.

So far, Solana has managed to bounce from that level and is attempting to maintain its position above it. This area could now determine whether the recent price action turns into a larger trend reversal or remains a temporary relief rally.

According to the analysis, holding above $72 would strengthen the bullish case.

However, if the support fails, the next major Fibonacci retracement sits near $52.11, corresponding to the 0.618 level. A move below that could potentially push Solana into the sub $50 range, which the analyst described as a potential long term accumulation zone.

Long Term Upside Targets

Despite the recent correction, the chart still outlines several long term resistance levels for Solana.

The first major resistance band appears between $200 and $250, with the previous peak near $294.78 positioned just above that range.

Beyond these levels, the long term projection suggests potential upside targets near $500 and even $1,000. However, these levels would require Solana to first reclaim resistance zones and confirm a sustained trend reversal.

Second Chart Signals Breakdown Toward $42  

A separate analysis from market technician Aksel Kibar presents a much more bearish outlook.

The weekly SOL/USD chart shows Solana breaking below a major support level after trading within a broad consolidation range for months.

According to the chart, Solana repeatedly traded between resistance near $247 and support near $112, forming a narrowing structure.

The recent drop below the $112 support level suggests a structural breakdown on the weekly timeframe.

As a result, the chart outlines a potential downside target near $42.5 if the bearish momentum continues.

Weakening Market Structure

The bearish structure also reflects repeated failures near the upper boundary of the range.

Each rebound attempt stalled before reaching new highs, gradually weakening the structure until the latest sell-off triggered the breakdown.

For now, the key technical signal remains the loss of the $112 support zone. If Solana remains below that level, the $42.5 target could remain in focus.

The latest technical charts present two very different outlooks for Solana.

One analysis highlights a key Fibonacci support near $72 that could support a recovery, while another points to a structural breakdown with a possible $42 downside target.

With such conflicting signals, the next move for Solana will likely depend on whether it can defend key support levels or continue the current downward trend.