TLDR
- Solana (SOL) currently trades near $80 following a rebound from $75.64 lows
- Technical charts reveal a swing failure pattern (SFP) at the 0.618 Fibonacci support zone, hinting at a possible near-term reversal
- Critical overhead resistance includes $82, $84, and $85, with extended targets at $92 and $95
- Breaking back above and maintaining $78–$82 remains essential for confirming any positive momentum shift
- The Bitwise BSOL staking ETF attracted more than $3 million in net inflows on February 23, despite SOL declining approximately 41% across the last three months
Solana is making an effort to bounce back following its decline to $75.64. The digital asset has regained ground above the $80 mark and is currently positioned above its 100-hour simple moving average.
This upward movement occurred after SOL managed to breach a descending trend line that had been acting as resistance around $81 on the one-hour timeframe.
The token also surpassed the 50% Fibonacci retracement level calculated from the recent swing high of $86.68 down to the $75.64 low. This development presents a modestly encouraging signal for near-term momentum.
Selling pressure remains evident around the $82.50 area, which corresponds with the 61.8% Fibonacci retracement zone. This region represents the immediate challenge that bullish traders must overcome.
A swing failure pattern (SFP) has developed at the 0.618 Fibonacci support level. This technical formation occurs when price momentarily dips below a previous low, triggering stop-loss orders, before rapidly reversing to the upside.
Several downward wicks visible on the chart indicate that bears attempted to drive prices lower but failed to sustain the momentum. Buying interest emerged and counteracted the downward pressure.
This formation is often interpreted as evidence that a temporary floor may be establishing, although additional confirmation remains necessary.
$78 Represents the Critical Threshold
For this recovery attempt to gain traction, SOL must recapture and sustain levels above $78. This price point serves as immediate resistance and represents a pivotal threshold for short-term directional bias.
$SOL (per request)
2 clear scenarios as far as I’m concerned.
Needs to close daily back above $80 to activate bullish (orange) scenario. pic.twitter.com/tpPVYnoBP3
— Nebraskangooner (@Nebraskangooner) February 24, 2026
Maintaining support above $78 would also position SOL above the value area low, a metric utilized in volume profile analysis to assess buyer engagement.
Should $78 prove supportive, the subsequent upside objective sits at $88. This level corresponds with previous distribution activity and would mark a substantial recovery from present pricing.
Looking further up, resistance zones exist at $92 followed by $95. However, a decisive close above $85 would first be necessary to bring those targets into realistic reach.
BSOL ETF Attracts Capital Amid Price Weakness
From an institutional perspective, Bitwise’s Solana Staking ETF (BSOL) posted $3,048,570 in net inflows on February 23, 2026.
This activity elevated the fund’s total assets under management to $490,255,220. The daily inflow accounts for approximately 0.62% of total AUM.
These inflows materialized even as SOL has declined around 41% throughout the preceding three-month period. The near-term technical outlook on SOL-USD was indicating a Strong Sell signal during this timeframe.
Should SOL fail to penetrate above $82, immediate downside support levels include $80, followed by $79. A breakdown beneath $79 could potentially drive the price back toward $77 or potentially $74.
SOL was changing hands at $76.57 when the BSOL inflow data was reported on February 23.
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