Solana is trading near $75 as SOL holds above the crucial $60-$62 support zone while buyers target a breakout through $78-$80. The Alpenglow upgrade adds a fundamental catalyst, but Elliott W
Solana is trading near $75 as SOL holds above the crucial $60-$62 support zone while buyers target a breakout through $78-$80. The Alpenglow upgrade adds a fundamental catalyst, but Elliott Wave analysis still shows a corrective structure, with $82-$94 resistance standing between SOL and a stronger recovery.
Solana Holds Key Range as Alpenglow Upgrade Adds a Fresh CatalystSolana is consolidating near $75 after a prolonged decline, with the three-day chart showing SOL trapped in a broad base above its $60.11 low. At the same time, attention is turning to Alpenglow, Solana’s major consensus overhaul, which has received more than 98% staker approval and is designed to reduce finality from roughly 12.8 seconds to about 100-150 milliseconds.
Solana SOL USD 3-Day Chart. Source: Jeremy (@Jeremybtc)
SOL was trading near $75.15 on the chart, remaining inside the wide consolidation zone that has developed since the token reached a marked low of $60.11. The range follows a steep decline from the chart’s $253.67 peak, showing that the broader trend has yet to produce a confirmed reversal.
However, price action has changed character since the fall toward $60. Rather than continuing to make large new lows, SOL has spent several months moving sideways, repeatedly stabilizing above the bottom of the highlighted range. That makes the $60-$62 area the clearest structural support on the chart.
The upper portion of the range, around $78-$80, is now the more important test for buyers. SOL has repeatedly struggled to establish momentum above this region. A sustained breakout above $80 would provide the first stronger technical evidence that the extended consolidation is resolving upward rather than simply pausing the broader decline.
Until that happens, the range remains intact. Rejection near its upper boundary could send SOL back toward the low-$70s and potentially the $60-$62 support zone. A decisive breakdown beneath the $60.11 low would invalidate the current basing structure and expose Solana to renewed downside risk.
Alpenglow provides an important fundamental backdrop, but the upgrade does not by itself confirm a price breakout. Solana describes Alpenglow as a major replacement of its existing consensus mechanism, while official material targets confirmation times around 150 milliseconds. Recent Solana engineering updates also show preparations for the mainnet transition are continuing, including an Alpenglow bug bounty announced in July.
For the price outlook, the practical signal remains the range. Holding $60-$62 preserves the potential base, while a convincing move above $78-$80 would strengthen the case for a larger SOL recovery.
Solana Recovery Remains Corrective Below Key Fibonacci ResistanceMore Crypto Online’s daily chart takes a cautious view of Solana’s rebound from its June low. The analyst argues that the advance has developed as only a three-wave recovery so far, meaning the market has not yet confirmed that a significant bottom is in place.
Solana SOLUSD Daily Elliott Wave Chart. Source: More Crypto Online (@Morecryptoonl)
SOL was trading near $74.50 on the chart, below a descending trendline that has capped the recovery from the May swing high. The inability to decisively clear that trendline keeps the current move consistent with corrective price action rather than a confirmed bullish reversal.
The first important upside area begins around $82.26, corresponding to the 61.8% Fibonacci level shown on the chart. Above that, additional resistance appears near $89.41 at the 78.6% retracement and $94.00 around the 88.7% level.
Together, those levels form a broad $82-$94 resistance zone. A sustained move through the descending trendline and into this region would show stronger recovery momentum, although the Elliott Wave structure would still need additional confirmation before signaling that the broader correction has ended.
On the downside, the chart highlights $62.43 as an important support reference close to the June low. Holding above that area would keep open the possibility of another recovery attempt, while a decisive break below it would weaken the argument that SOL has established a durable bottom.
The chart also marks a deeper level near $48.79, showing where attention could shift if the larger corrective structure extends significantly lower. That level should be treated as a downside scenario rather than a confirmed Solana price target.
For now, the key technical question is whether SOL can turn its three-wave rebound into a stronger bullish structure. A breakout above the descending trendline and progress toward $82-$94 would improve the outlook, while renewed weakness toward $62 would keep the broader correction firmly in focus.
