Solana (SOL) has recorded a sharp 10% rebound over the past 24 hours, benefiting from a modest improvement in broader cryptocurrency market sentiment. After a difficult January and prolonged corrective pressure, the token is beginning to show signs of stabilization.

Currently trading around $84, SOL is holding above the $80 support level, a zone that has been tested multiple times throughout February 2026. This area has acted as a structural floor following the steep decline earlier in the year, and continued defense of this level suggests that selling pressure may be gradually exhausting.

Solana (SOL) technical analysis

SOLUSD - 1 Day Time Frame

The $80 region remains the key short-term support. As long as price holds above it, the recovery structure remains intact. To the upside, the next immediate hurdle lies at the $87 S/R level. This zone is currently acting as resistance but could transition into support if decisively reclaimed. A sustained move above $87 would mark an early structural improvement and shift short-term momentum more clearly in favor of buyers.

Beyond that, attention turns to the broader resistance region near and slightly above the psychologically significant $100 level. This area previously acted as a consolidation range before the January breakdown and now represents a stronger supply zone.

If bullish momentum strengthens and broader market conditions continue to stabilize, the next major resistance level appears near $120, which aligns with prior structural highs and represents a more significant recovery objective.

Solana (SOL) price target

The current technical structure suggests that SOL is attempting to build a base above $80. A break and acceptance above $87 would be the first meaningful confirmation of upside continuation, potentially opening the path toward $100 and, in a stronger scenario, $120.

However, failure to maintain momentum could result in renewed consolidation between $80 and $87. A breakdown below $80 would weaken the recovery attempt and expose lower support areas, particularly if broader market volatility returns.

For now, SOL sits at a technically sensitive inflection point, where price behavior around $87 will likely determine whether this rebound develops into a broader recovery phase or remains a corrective bounce within a larger downtrend.