Solana's native token SOL is trading at roughly $73.70, according to CoinGecko, after sliding 8% over the past month. That price zone has become a focal point for traders, with several analysts warning that a sustained close below it could trigger a deeper sell-off.
Why $73.70 matters
Ali Martinez, a crypto analyst, described the $73.70 level as a 'make-or-break' moment. He pointed out that more than 50 million SOL tokens were purchased around that price, making it a critical support zone. If that support fails, Martinez said, SOL could drop to $60 and even $50.
What a break below could mean
A drop below $73.70 would put the next major floor at $60, according to Martinez. If that doesn't hold, $50 becomes the next target. Another trader, going by the handle Pepesso, said the $45–$60 range is the zone that really matters. As long as $45 holds, Pepesso argued, it's a clean accumulation setup. But a breakout under $45 would invalidate the bullish scenario entirely.
The bullish case
Not everyone is bearish. Michael van de Poppe said a breakthrough above $76 could trigger a rally to $120. Another X user, BATMAN, noted that SOL's valuation was nearing a bullish trendline that had supported past major bottoms. Pepesso added that a reclaim of $100 would be the first real confirmation of a trend reversal, with $150–$200 becoming the next range.
Small holders step back
Martinez also highlighted a decline in the number of addresses holding at least 0.1 SOL. That figure dropped 5% over the past two weeks, from 11.84 million to 11.26 million. He said the decline indicates a slowdown in participation among smaller holders, which could add further pressure to the price. However, small players reducing exposure isn't necessarily bearish if whales are accumulating. But recent data doesn't show any meaningful interest from large holders, Martinez noted.
The next few trading sessions will test whether $73.70 holds as support. If it doesn't, $60 becomes the immediate floor. If it does, $76 is the first hurdle to clear before a potential run higher.
