Solana: Bottom Forming or Just a Pause?SOL / TetherUSBINANCE:SOLUSDTDukesMarketAnalysisMajor support holding Solana continues to find support around the 0.786 Fibonacci retracement at $69.60, with buyers stepping in above the recent June low at $60.13. For now, this remains the most important support zone on the monthly chart. Primary trend still bearish Despite stabilising, SOL remains almost 80% below its January 2025 all-time high. Until higher resistance levels are reclaimed, the broader trend continues to favour the bears. Momentum remains weak Monthly RSI remains below the 50 level, highlighting that long-term momentum is still bearish. Meanwhile, StochRSI is sitting in extremely oversold territory, suggesting downside momentum may be becoming exhausted. Resistance overhead The first hurdle for the bulls sits around $98.41. Beyond that, the more significant resistance comes in near the previous support confluence and 0.618 Fibonacci retracement at $117.95. Patience still required While price is beginning to stabilise around a key Fibonacci level, bulls still have plenty to prove. A sustained recovery will require successive breaks above the major resistance levels overhead. In Summary Solana is showing signs of stabilising around the important 0.786 Fibonacci retracement at $69.60, but the broader monthly trend remains bearish. With RSI still below 50 and price almost 80% beneath its January 2025 high, the longer-term picture has yet to improve. Bulls first need to reclaim $98.41, followed by the major $117.95 resistance zone, before a more meaningful trend reversal can be considered.