Solana’s 30% Bounce Faces a Critical Test — Where Is the Price Headed Next?

The Solana price has staged a sharp recovery after a steep decline inside a falling channel. After slipping toward the lower part of that structure, SOL found strong support near $67 in early February and rebounded over 30%. The bounce was fueled by dip buying, possibly by the most hopeful crowd. At first glance, the rebound looks convincing. But the SOL price is still trapped below major resistance, and on-chain data shows mixed conviction. The market now faces a critical test: whether buyers can turn this bounce into a sustained recovery, or whether selling pressure will return and drag the price lower again. Dip Buyers Defended Key Support Zone Solana’s rebound began before the price reached the bottom of its falling channel. Instead, buyers stepped in early near the $67 zone, which acted as an internal support level while the price was still sliding lower. On February 6, SOL printed a long lower wick on the daily candle near $67. A long lower wick shows that buyers aggressively absorbed selling pressure and rejected lower prices. This type of candle often appears when demand suddenly strengthens during panic phases. This behavior was reinforced by the Money Flow Index (MFI). MFI combines price and volume to measure whether money is flowing into or out of an asset. Rising MFI during falling prices usually signals dip accumulation. Dip Buying Present: TradingView Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Between December 18 and February 6, Solana’s price trended lower, but MFI trended higher. This bullish divergence showed that capital was steadily entering the market despite the downtrend. In simple terms, buyers were active even while the price was falling. This early defense of $67 prevented Solana from sliding straight to the channel’s lower boundary. It created the base for the 30% rebound. But early dip buying alone is not enough to sustain a trend. To understand whether this support is durable, ...