Will Solana’s Price Recovery Be Challenging? Here’s What On-Chain Signals Suggest

Core Insights - Solana has experienced a significant intraday recovery, gaining 12% despite market uncertainty, as the broader crypto market added nearly $200 billion in value [1][10] - Long-term holder buying momentum is slowing, with the HODLer Net Position Change declining, indicating reduced accumulation from investors who typically support prices during downturns [2][3] - A sustained recovery for Solana depends on whether long-term holders resume accumulation; weak buying momentum may hinder durable upside [3] Market Dynamics - The Money Flow Index (MFI) is nearing the oversold threshold below 20.0, suggesting that selling pressure may be nearing exhaustion, which could lead to price stabilization or short-term rebounds [8] - Historically, Solana has entered oversold territory three times in the past two and a half years, each time coinciding with notable price stabilization or reversal [9] Price Analysis - Solana's price is currently trading near $88 after a 12% increase in the past 24 hours, following a drop to an intraday low of approximately $67 [10] - Support from the broader market could enable SOL to push above $90, with a recovery rally requiring the reclaiming of $100 as support to confirm improving momentum [11] - If long-term holder selling continues and $100 is not reclaimed, Solana may remain range-bound near $90, with potential downside toward $78 [12]