SOL bullish undercurrents are surging! $85 could become the key trigger point; will the next rally directly surge to $100?

As of April 23rd, Solana (SOL) is currently priced at 85.88 USDT. From the overall candlestick structure, SOL has experienced a significant correction earlier and has now completed a phased bottom formation, entering a trend recovery stage. The current price is operating near a key resistance zone, with bulls and bears engaged in intense competition around the $85 mark.

If the bulls can successfully break through the current area, SOL is likely to initiate a new upward cycle. Next, a comprehensive technical analysis will be conducted on the daily, 4-hour, and 1-hour timeframes.

1. Daily Level Analysis: Bottom Structure Gradually Forming

From the daily structure perspective, SOL previously entered a deep correction from around $120, with the lowest dip near $70, forming a phased bottom. Subsequently, the price entered a consolidation and recovery stage.

Currently, the daily chart shows a clear pattern of rising lows:

Lows in sequence are:

70

75

80

83

The lows are continuously rising, indicating that market funds are gradually flowing back, and bullish momentum is strengthening.

Meanwhile, the daily candlestick pattern is gradually forming an oscillating upward structure, which is a typical early-stage bottom reversal pattern.

2. 4-Hour Level Analysis: Formation of an Upward Channel

From the 4-hour perspective, SOL is currently operating within a short-term upward channel.

The market structure is very clear:

Low points:

75

79

82

84

High points:

82

85

88

The highs and lows are rising in sync, indicating that the current trend remains in the hands of the bulls.

Additionally, looking at the moving average structure:

MA20 trending upward

MA60 trending upward

MA120 gradually flattening

This is a typical early-stage trend recovery bullish structure.

3. 1-Hour Level Analysis: Consolidation Before Breakout

From the 1-hour structure, SOL is currently in a consolidation phase, with prices fluctuating between 84 and 87.

This pattern closely resembles a bullish relay consolidation:

Uptrend → sideways consolidation → further upward movement.

In the short term, the market may follow two possible scenarios:

Scenario 1: Breakout Upwards

If the 87–88 zone is broken with increased volume:

Short-term targets:

90

95

Scenario 2: Pullback for Confirmation

If a correction occurs:

Short-term support levels:

84

83

As long as 83 does not break downward, the overall trend remains a healthy correction.

Today’s Trading Strategy (April 23rd)

Direction: Long

Entry position: 85.88

First target: 84.59

Second target: 83.3

Stop-loss: 87.6