Solana (SOL) is showing early signs of price stabilization after defending a key long-term support zone, according to technical analysts. The weekly chart pattern suggests seller exhaustion may be setting in, a condition that has historically preceded major rallies. Meanwhile, the network’s fundamental strength is underscored by its tokenized real-world asset ecosystem surpassing $1 billion in total on-chain value.
Solana showed signs of stabilization on Sunday, February 8, as experts pointed to a defended long-term support level. The price action suggests fading downside pressure, indicating potential seller exhaustion.
Trader Tardigrade stated that Solana’s weekly chart may have completed a corrective phase. The analyst noted prolonged consolidation has allowed momentum to cool, a historical precursor to expansion phases.
Some analysts expect a transition from accumulation to a new bullish cycle. Past cycles with similar patterns resulted in rallies lasting multiple months.
Technically, SOL was trading around $88, below its major exponential moving averages. The recent bounce failed to break through the 20 EMA, indicating sellers still control the trend.
The Relative Strength Index has improved to near 46. A sustainable move past the 50-level could signal improving conditions for buyers.
On the fundamental side, Solana’s tokenized real-world asset ecosystem crossed $1 billion in total on-chain value. This reflects a nearly tenfold increase in tokenized U.S. Treasuries, private credit, and yield-bearing assets.
This rapid growth highlights Solana’s role in the tokenization of real-world assets. As demand for transparent yields grows, the network is positioning itself at the forefront of blockchain-based capital markets.
