Solana shows resilience as Bitcoin struggles
Solana continues to look significantly more resilient than Bitcoin. Despite the broader pressure on the cryptocurrency market, SOL has not yet set a new 52-week low, suggesting that its downside potential may be more limited compared to BTC.
Amid the ongoing crypto sell-off, major altcoins are beginning to show relative strength. While Bitcoin continues to set new local lows, Solana is holding slightly above its previous lows.
This is largely because Solana has already been deeply oversold for several months. A significant portion of weak holders has already left the market, meaning selling pressure is gradually becoming less intense.
However, altcoins are still unable to fully decouple from Bitcoin. If BTC accelerates to the downside, a new wave of liquidations would likely affect Solana as well, regardless of its own technical and fundamental setup.
Solana holds support but risks remain
As mentioned in our previous analysis, the $68.00 level remains the key support zone for SOL. The price briefly broke below this level but quickly recovered above it.
The $75.50–$76.00 zone remains an important resistance area. A breakout above this range could trigger a move toward $80. However, given the weakness of the broader cryptocurrency market, this scenario currently appears less likely.
A more likely scenario is a decline toward $68.00, followed by a retest of the 52-week low at $60.13.
Bitcoin will determine Solana's next move
Bitcoin remains the key driver for Solana. Despite SOL's stronger technical picture, the altcoin market still depends heavily on the performance of the leading cryptocurrency.
If Bitcoin stabilizes and stops setting new lows, Solana could become one of the first major assets to begin recovering.
However, while institutional capital continues to leave the cryptocurrency market, it is still too early to talk about the start of a sustainable recovery.
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