$SOL has broken out of a long-term descending channel and is now consolidating around the $92–$95 range, signaling a potential trend reversal after a broader base formation.
A sustained move above $95 is key. If confirmed, the next targets are $102.70 followed by $106.50 and $118.26. In a stronger market environment, higher levels like $143 and $163 could come into play.
On the downside, $92 is immediate support, with $89 and $78 as deeper levels. A loss of $78 would invalidate the bullish structure and increase risk of a move back toward $70.
Overall, holding above $95 keeps the bullish breakout valid, while losing $92 would weaken the structure significantly.