Solana’s 30% Bounce Faces Critical Test at $96

Solana rebounded over 30% from $67 but remains trapped inside a falling channel. After finding strong support near $67 in early February, SOL rallied more than 30%, driven by dip buying, yet the price still sits below major resistance and the market now faces a crossroads: sustain the recovery or see selling return and push the price lower.

On-chain indicators paint a mixed picture. Between December 18 and February 6 the Money Flow Index rose even as price fell, signalling steady capital inflows and early dip accumulation that prevented a slide to the channel’s lower boundary. That early defense created the base for the rebound, but it does not guarantee a durable trend.

Long-term holders increased net accumulation from about 1.88 million SOL on February 6 to roughly 1.97 million by February 8 — an increase of around 5% — suggesting cautious return of conviction. At the same time the 1‑day to 1‑week cohort sold into the bounce, with its share of supply falling from about 8.32% to 5.40% (nearly a 35% decline).

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