Solana (SOL) could be positioning for a recovery after breaking its previous bearish market structure and showing relative strength against Bitcoin. An analyst has identified a key support zone that could influence the token’s next move. Meanwhile, DeFi Development Corp. continues to expand its SOL holdings, although its latest purchase was smaller than its previous weekly acquisitions.
As of now, according to CoinMarketCap data, Solana is trading at $103.94, with an increase of 1.91% over the past 24 hours and a decrease of 3.4% over the past week.
Solana Eyes Swing-Long Opportunity in $92–$98 Support Zone
Crypto market analyst Crypt0_Nova noted that SOL is showing potential signs of a bullish reversal after breaking its previous bearish market structure and forming a higher high. SOL has also demonstrated relative strength against Bitcoin, suggesting that it may be outperforming the leading cryptocurrency.
The analyst has identified the $92–$98 range as a potential swing-long zone, where several technical indicators converge. The range aligns with previous trading-range highs, the Fibonacci Golden Pocket retracement level, and the 20-period and 50-period exponential moving averages (EMAs). This confluence could provide support if SOL retraces from its recent gains.
If buyers defend this zone, Solana could form a higher low, with the retracement holding above the previous swing low. Such a formation could reinforce the bullish setup and create room for further gains. However, the zone remains a potential support area rather than a confirmed reversal point. A sustained break below it could weaken the setup and increase downside risks.
DeFi Development Corp. Buys $417K in SOL in Its Smallest Weekly Purchase
According to data from SolanaFloor, DeFi Development Corp. (DFDV), a company focused on building a Solana treasury, purchased 3,983 SOL worth approximately $417,000 last week. The acquisition represents its smallest weekly purchase since the company raised $11 million through CHAD share sales in September.
The latest transaction suggests that DFDV has slowed its pace of SOL accumulation compared with its earlier purchases. The company’s treasury strategy centers on building exposure to Solana, making its reported acquisitions a useful indicator of its ongoing accumulation activity.
However, the smaller purchase alone does not establish a shift in the company’s long-term strategy. It reflects the size of its latest reported acquisition, while its future buying activity will depend on its treasury plans and available capital.
