Solana price seeks direction: two scenarios to follow

The Solana price currently stands at $74. up 2.8% over the past 24 hours. However, there is still little clarity about direction on the higher time frames. Analyst @eliz883 examines Solana’s weekly chart and sees a coin that is in the middle of a range, with no clear signs of a strong trend developing.

Solana is available at OKX and Bybit.

Two scenarios for the Solana price

According to the analyst, there are two situations that deserve the most attention. The first scenario is a recovery towards the $82 to $90 zone on the weekly chart. If Solana cleans that area and manages to hold it, resistance could turn into support. That could lay the foundation for a more structured recovery phase.

The second scenario is a further decline towards the lower end of the range. The analyst does not necessarily see that as bad news, but rather as an opportunity to gradually increase the spot position. Especially if such a decline comes with profit-taking and early signs of a price reaction, these are interesting entry levels.

Solana as a driver of the on-chain ecosystem

What the analyst does state clearly: once Solana really picks up momentum, it is likely to be one of the biggest driving forces behind the entire on-chain ecosystem. The question is not whether that will happen, but when. And when it does, the memecoins within the Solana network in particular will benefit from the increased capital inflow and speculation.

Historically, liquidity flows quickly to the more aggressive assets on the network as soon as SOL moves. Those who follow the Solana news know that this dynamic has occurred before. The question remains for now whether the price will first head for the upper zone, or test the lower regions a little longer before the real move begins.