Solana (SOL) is encountering resistance at a key technical level, raising concerns of a potential drop below the $90 mark before any significant recovery can take shape. The cryptocurrency is currently struggling to reclaim what analysts call the “point of control”—the price range with the highest recent trading volume—transforming it into a zone of short-term resistance.
Bearish Compression Signals Liquidity Grab Risk
According to recent market behavior, bullish momentum remains weak, with price action compressing below resistance. This compression is often a precursor to liquidity-driven moves, especially in high-volume zones. Analysts suggest that a liquidity sweep below $90 could be on the horizon, potentially triggering a Swing Failure Pattern (SFP)—a common reversal setup in technical trading.
If such a move materializes, it could act as a springboard for a sharp bullish reversal, targeting significantly higher price levels between $178 and $252. However, that outcome hinges on whether Solana can hold critical support during the next leg down.
Volume Profile Hints at Imbalance
The point of control, now acting as resistance, reflects an imbalance between buyers and sellers. Without a decisive reclaim of this zone, further downside remains likely in the short term. For bulls, holding above the $89–$90 area is essential, as any breakdown below could shift the market structure toward further weakness.
Still, some traders view the liquidity below $90 as a setup for accumulation, rather than a continuation of the downtrend. If the move below support is brief and followed by a strong recovery, it could validate a bullish rotation and fuel optimism for the next upward cycle.
