Solana (SOL) has joined the broader market in its bearish falls lately, with the coin's price slump extending to a 10.37% loss over the past week. However, a key technical indicator suggests that a trend shift might be around the corner for Solana.

According to top market analyst Ali Martinez, Solana's price has hit a major support level at the $141 mark. The coin dropped to a 24-hour low of $140.12 and recorded a high of $145.54, with the $140 price point being the lowest Solana has recorded in the past month. If this $141 price point serves as a key support to prevent further slumps, it could signal a potential rebound for SOL.

Interestingly, the TD Sequential indicator has generated a buy signal on Solana's daily chart, which is a bullish sign considering the SOL bears are facing exhaustion from selling. Martinez suggests that if the $141 support holds, Solana might print 1 to 4 more daily candlesticks, indicating a potential rally.

Solana's resilience in the face of the broader market downturn can be attributed to the growing memecoin revolution within the ecosystem. While Ethereum and Binance Smart Chain have had their own memecoin runs, Solana is now emerging as the memecoin network to watch. The ecosystem activity around memecoins like BONK and dogwifhat (WIF) has helped sustain demand for SOL, and if this trend continues, it might further fuel the rebound projection for the coin.

Overall, the technical signals and the memecoin-driven activity within the Solana ecosystem suggest that Solana might be poised for an epic rally if the key $141 support level holds. This insight could be crucial for market watchers as they gauge the potential trends for Solana in the coming days.