Will Solana’s Price Soar or Sink? The Wild Ride of SOL in 2026!

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Oh, dear reader, gather ’round and lend me your ears! Just a whisker over a week ago, those clever folks at AMBCrypto were chattering about a curious little pattern called the head and shoulders that was frolicking on the Solana weekly chart. They boldly claimed it could tumble down to a meager $47! Well, wouldn’t that be a sight to see?

But lo and behold! The bearish structure threw a tantrum, followed by a cheeky retest of the 78.6% level at a rather lofty $252.9. And what happened next? A dramatic rejection that pointed its finger at $47.9 as the next destination. My, my!

As if that weren’t enough, the wise wizards of the weekly timeframe’s DMI waved their magic wands, signaling a strong bearish trend in motion, while the moving averages sang a sad song of downward momentum.

Now, you might think that the $49 price prediction looked as bleak as a rainy day in London, but hold your horses! The RWA market cap of Solana [SOL] decided to throw a party, breaking through the whopping $1 billion barrier. Quite the resilient little chap, isn’t it?

And, would you believe it, banking giant Citi completed an internal proof of concept using Solana? Why, it seems our old friend TradFi is slowly slipping into the blockchain’s embrace. How utterly delightful!

Is Solana already a hidden gem or stuck in a never-ending downtrend?

The new all-time highs in Total Value Locked (TVL) showed that network confidence was strutting about like a peacock. Yet, amidst all this, the frenzy of Solana-based memecoins and a spike in speculative activity meant that the high on-chain activity and SOL prices weren’t necessarily painting a rosy picture. Oh, the irony!

Now, take a gander at the $95 and $110 areas-those were the trouble spots on the daily timeframe. And let’s not forget the $120-$127 zone, which was practically a bear’s den-a formidable resistance block!

A bounce to these price targets could very well happen, but beware! The chances of getting rejected from those highlighted supply zones grow stronger the higher SOL climbs. It’s like a game of musical chairs!

Short-term shenanigans revealed a range formation between $76.6 and $89.8. Those extremes, along with the mid-range level at $83.2, are set to be the pivotal points for SOL in the days to come. What a rollercoaster!

If our brave traders can break past the highs into those supply zones, it’ll be time to sell, especially with the long-term downtrend lurking about like a shadow. But, oh dear, a dip below the $76 range lows would bring us one step closer to the dreaded sub-$50 predictions for SOL. Let’s hope it doesn’t come to that!

Final Summary

  • The long-term head and shoulders pattern, along with our friendly Fibonacci extension level, both point to a $47-$49 price target for Solana. Quite the charmer, isn’t it?
  • Over the past ten days, Solana has been twiddling its thumbs within a range, but it’s far too soon to expect a grand recovery. Patience, dear friends!

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2026-02-17 01:00