Solana (SOL) has built a strong base near $70 after sharp pullbacks last month and has since climbed above the upper bound of its prolonged downtrend. The cryptocurrency is currently trading at $85.98, presenting a more optimistic technical picture.
Key Resistance at $95–$100; Next Target $145–$155
Charts shared by crypto analysts suggest SOL bounced from the $70–$75 support zone and is now testing the $95–$100 band — the first major resistance for bulls. Should SOL achieve a daily close above $100, the next projected target lies in the $145–$155 range, a former support turned resistance after being breached.
“If Solana posts a daily close above $100, that could indicate buyers are gaining control and help propel prices toward new resistance zones at $145 and above,” analysts noted.
The price action near $70 formed a rounded bottom pattern, a chart formation where prices decline, flatten, then rise — typically signalling a long-term base and potential trend reversal. The break above the downtrend line further reinforces the bullish shift.
$98 Hurdle Remains; $82 Support in Focus
While SOL shows greater relative strength compared to its peers, it faced rejection near $98, highlighting a tough barrier. Analysts warn that as long as the price stays below $98 and $100, uncertainty persists. The first downside support is $82. If buyers fail to defend that level, a further decline toward $67.61 remains a risk.
| Level | Significance | Latest status |
|---|---|---|
| $70–$75 | Strong support | Bounced upwards |
| $95–$100 | Critical resistance | Still below, not broken |
| $145–$155 | Upper resistance/target | Potential target |
| $82 | Intermediate support | Near current price |
| $67.61 | Last support in decline | Possible risk area |
In the near term, a break above $98 could open the door to a strong recovery. Sustained daily closes above both $98 and $100 are seen as vital for continued upward momentum.
Solana’s Market Position
Solana is a high-speed, low-fee blockchain known for hosting DeFi dApps and NFT platforms. It ranks among the top cryptocurrencies by market cap. While recent technical signals have lured investors back to SOL, unresolved short-term resistance levels continue to pose risks.