Solana USD Rebounds 2.40% Daily—Can SOLUSD Reclaim $115 Support?
Solana USD (SOLUSD) is trading at $79.10 as of February 23, 2026, down 4.08% over the past five days. The cryptocurrency has experienced significant pressure, declining 32.80% over the past month and 55.07% over six months. However, a daily bounce of 2.40% suggests potential stabilization near support levels. Understanding why Solana USD is trading at these levels requires examining technical indicators, market sentiment, and price forecasts. We’ll analyze the current technical setup and what could drive SOLUSD higher in coming weeks.
Solana USD Technical Analysis
SOLUSD shows mixed technical signals as of February 23, 2026. The RSI at 34.92 indicates oversold conditions, suggesting selling pressure may be easing and a bounce could be forming. The MACD histogram at 0.35 shows a bullish crossover beginning, with the signal line at -11.79 crossing above the MACD at -11.44. The ADX at 52.21 confirms a strong downtrend remains in place, meaning the selling pressure is organized and persistent.
Price action reveals SOLUSD trading well below the 50-day moving average of $115.06 and significantly below the 200-day average of $161.62. The Bollinger Bands show the upper band at $128.94 and lower band at $61.32, with SOLUSD trading in the lower half of this range. Support levels near $77.12 (today’s low) and $67.48 (52-week low) represent critical price floors. Resistance emerges at the 50-day moving average of $115.06, which would represent a 45.4% rally from current levels.
Market Sentiment and Trading Activity
Trading volume for SOLUSD reached 69.34 million on February 23, 2026, representing 103.7% of the 30-day average volume of 119.34 million. This elevated volume during a decline suggests institutional selling pressure, though the daily bounce indicates some buyers are stepping in at lower prices. The Money Flow Index at 22.12 signals weak buying pressure, confirming that capital inflows remain limited despite the oversold RSI reading.
Liquidation data shows the market has experienced significant liquidations during the recent decline from $253.61 (52-week high) to current levels. The Awesome Oscillator at -28.68 reflects bearish momentum, though the recent daily bounce suggests momentum may be stabilizing. Market participants are watching whether SOLUSD can hold above $77.12 support or if further liquidations could push it toward the $67.48 52-week low.
Solana USD Price Forecast
Monthly Forecast: SOLUSD is projected to reach $1.10 by end of March 2026, representing a 98.6% decline from current levels. This forecast appears to reflect extreme downside scenarios and should be treated with caution given current technical support levels.
Quarterly Forecast: The quarterly target sits at $116.45 by end of Q1 2026, representing a 47.2% rally from current prices. This aligns closely with the 50-day moving average at $115.06 and represents the first major resistance zone.
Yearly Forecast: SOLUSD is projected to reach $219.24 by February 2027, representing a 177.2% gain from current levels. This would place the token near the 200-day moving average of $161.62 and represent a significant recovery from current oversold conditions.
Disclaimer: Forecasts may change due to market conditions, regulations, or unexpected events. These projections are based on historical patterns and current technical levels, not guaranteed outcomes.
Why Is Solana USD Dropping—Key Factors
Solana USD has declined 52.04% over the past year, reflecting broader cryptocurrency market weakness and specific challenges facing the Solana ecosystem. The 55.07% six-month decline coincides with increased regulatory scrutiny on cryptocurrency exchanges and concerns about blockchain scalability. Market data shows that SOLUSD peaked at $253.61 in the past 52 weeks, suggesting significant profit-taking from holders who accumulated at lower prices.
The recent 32.80% monthly decline reflects accelerated selling pressure, potentially driven by macro factors affecting risk assets globally. The strong ADX reading of 52.21 indicates this downtrend has momentum behind it, meaning reversals typically require strong catalysts. Technical weakness, combined with below-average trading volume relative to historical norms, suggests institutional interest in SOLUSD remains limited at current price levels.
Support and Resistance Levels for SOLUSD
Critical support for Solana USD exists at multiple levels based on technical analysis. The immediate support sits at $77.12 (today’s low), followed by $67.48 (52-week low). The Bollinger Band lower band at $61.32 represents the third support zone, which would require a 22.5% decline from current levels to test. Breaking below $67.48 would signal a potential move toward $61.32 and represent capitulation selling.
Resistance levels present a clearer path for recovery. The 50-day moving average at $115.06 represents the first major resistance, requiring a 45.4% rally. The 200-day moving average at $161.62 sits at the second resistance level, representing a 104.3% gain from current prices. The Bollinger Band upper band at $128.94 provides intermediate resistance between these two levels. The 52-week high of $253.61 remains the ultimate resistance target, though reaching this level would require a 220.6% rally.
Final Thoughts
Solana USD trades at $79.10 on February 23, 2026, showing signs of stabilization after significant declines. The oversold RSI at 34.92 and early MACD bullish crossover suggest a bounce may be forming, though the strong ADX at 52.21 confirms the downtrend remains intact. Technical analysis reveals critical support at $77.12 and $67.48, with the 50-day moving average at $115.06 representing the first major resistance zone. Price forecasts suggest SOLUSD could reach $116.45 by end of Q1 2026 and $219.24 by February 2027, though these projections depend on market conditions and regulatory developments. The daily bounce of 2.40% indicates some buyers are entering at lower prices, but sustained recovery requires breaking above the 50-day moving average. Traders monitoring SOLUSD should watch volume patterns and whether the MACD crossover develops into sustained bullish momentum. The cryptocurrency remains in a strong downtrend, making risk management essential for any positions.
FAQs
SOLUSD has declined 55% over six months due to broader cryptocurrency market weakness, regulatory concerns, and profit-taking from holders. The strong ADX at 52.21 indicates an organized downtrend with institutional selling pressure. Technical weakness below key moving averages has accelerated the decline.
Immediate support sits at $77.12 (today’s low), followed by the 52-week low of $67.48. The Bollinger Band lower band at $61.32 represents the third support zone. Breaking below $67.48 would signal potential capitulation selling toward $61.32.
The 50-day moving average at $115.06 represents the first major resistance, requiring a 45.4% rally from current levels. The quarterly forecast targets $116.45, suggesting this level is achievable by end of Q1 2026 if buying pressure increases and the downtrend reverses.
RSI at 34.92 signals oversold conditions, suggesting selling pressure may ease. The MACD shows an early bullish crossover, while ADX at 52.21 confirms a strong downtrend remains in place. These mixed signals suggest caution despite oversold readings.
SOLUSD is projected to reach $219.24 by February 2027, representing a 177.2% gain from current levels. This forecast assumes recovery from oversold conditions and a reversal of the current downtrend, though market conditions could change this projection.
Disclaimer:
Cryptocurrency markets are highly volatile. This content is for informational purposes only. The Forecast Prediction Model is provided for informational purposes only and should not be considered financial advice. Meyka AI PTY LTD provides market data and sentiment analysis, not financial advice. Always do your own research and consider consulting a licensed financial advisor before making investment decisions.