SOL Targets $76/$90 After Rebound—Watch $60 Support
Solana (SOL) is rebounding after a sharp selloff, trading around $71.5 and up about 2.6% on the day. The latest move is framed as a potential recovery, but traders are warned it could still be a relief rally inside a broader downtrend.
Key SOL/USD levels matter. $60 is the main support. Holding above $60 keeps the recovery structure intact. Overhead resistance sits at $76, followed by $90.21, with $100 as a major psychological target. Momentum is improving but not yet confirmed: RSI(14) at 46.45 has risen from oversold, while remaining below the 50 neutral line.
Bull case: SOL breaks and holds above $76, then daily closes above $76 could open a path toward $90.21 and potentially reassess $100.
Bear case: losing the low-$70s and especially a daily close below $60 would invalidate the rebound. The next downside demand zone is cited at $50–$55. Traders are also urged to watch Bitcoin (BTC), as BTC direction may determine whether SOL’s range resolves upward or downward.
Neutral
This is mixed for SOL. The rebound and improving RSI suggest selling pressure may be easing, which supports short-term attempts to recover. However, the broader context remains bearish, and the momentum is still below the 50 neutral line—so a sustained reversal is not confirmed.
For traders, the market reaction will likely hinge on two triggers. A clear reclaim of $76 (and subsequent daily closes) would turn the move into a more durable bullish setup toward $90.21 and possibly $100. Conversely, losing the low-$70s and a daily close back below $60 would quickly flip the outlook back to bearish, with $50–$55 as the next downside area. BTC direction is an important external variable that could determine which path SOL follows.