Solana has fallen below a support level that marked the launchpad for its last big rally, and the price action is getting uglier by the day. The token is now trading near $75, down more than 10% over the past week and over 5% in the last 24 hours, according to market data. The breach has traders watching closely — the same support zone preceded Solana's surge to nearly $295 during the 2022-2023 cycle.
The support level that broke
Analyst Crypto Tice says Solana has broken below a critical support that previously triggered a bull run. The picture is binary from here: if the token reclaims that level, Crypto Tice sees a rally back to $250. But if it doesn't hold, the downside could be severe. The token is already trading near multi-year lows, and the selling pressure hasn't relented.
Eight red months and counting
Market analyst Crypto Patel pointed out that Solana has now printed eight consecutive red monthly candles — the first such streak since the token launched. That's a grim statistic for any asset, and the ninth monthly close is approaching. Patel noted that during the previous cycle, a similar bearish phase was followed by a sharp reversal that drove Solana close to its all-time high. If history repeats, Patel suggests a rebound to $500-$1,000 could follow after the ninth red monthly candle.
What the next candle might show
Crypto Tice says the next monthly candle will be critical for Solana's short-term direction. With the token already below that key support level, the market is watching to see if buyers step in or if the slide continues. Neither analyst is calling a bottom yet, but the stakes are clear: a failed reclaim could push Solana to new lows, while a successful bounce could set up a major reversal. The next few weeks should tell which path the market takes.
