1 month ago
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Key Takeaways
- SOL has entered the narrow end of a descending price structure after reclaiming Fibonacci support.
- Two proposed changes would reduce new issuance and make token burning more dependent on network activity.
- The wider thesis depends on demand from both buyers and Solana users; slower supply growth alone is not enough.
Lower Highs Have Pushed SOL Into a Tight Range
SOL traded near $75 on August 15, less than 1% above the 0.382 Fibonacci retracement near $74.5. Directly overhead, the descending blue trendline meets the 50-day SMA near $75.9, with the 100-day SMA at $77. Less than $2.50 separates support from the top of that resistance band.
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