#SOLANA, While Solana maintains critical support in the $55–$70 range, a $240 target stands out should it break above $100.
Solana is attempting to hold its ground within the critical support zone of $55 to $70.
If SOL rises above $100, the $120–$150 band and subsequently the $220–$240 range could come into focus.
While the $200–$300 range is highlighted on the weekly chart, a target exceeding $1,000 is considered speculative.
The risk of a decline could increase if there is a sustained drop below the $50–$60 band.
Following its recent decline, Solana is trading within the strong support zone of $55 to $70. A scenario for a broader recovery could gain momentum if the price climbs back above $100.
Critical threshold in a multi-year pattern
On weekly charts, SOL is hovering near the lower boundary of an expanding pattern that has been forming since 2024. The price action around the $68 level is seen as decisive in determining whether the market can successfully defend this zone. Previous tests of this same boundary have resulted in upward reactions.
An expanding pattern refers to a technical structure where the price creates higher highs and lower lows over time. In such structures, the upper and lower boundaries are monitored as zones of heightened volatility, where a breakout is crucial for determining the future direction.
According to the analysis, if the $55–$70 zone holds, the $100 level—followed by the $200–$300 range—could come back into play.
However, for a more significant bullish scenario to gain strength, the price must break above the pattern's upper trend line. The analysis assessed that this upper limit could form around $400 as the structure develops. It was emphasized that a confirmed breakout from the pattern could signal levels above $1,000 in the long term, though this remains merely a speculative target for now.
$55 to $70 Key support zone
$100 Initial threshold for a strong recovery
$200 to $300 Potential medium-term target area
$400 Resistance near the upper trend line
Above $1,000 Long-term speculative target
On the other hand, a drop below $55—and the price remaining below that level—could significantly weaken the bullish outlook. In such a scenario, the risk of deeper losses might increase.
Possibility of reaching $240 monitored on the daily chart
Similarly, the $60 to $70 range stands out on the daily chart. Although the price recently dipped briefly below the near-term consolidation zone, it has managed to remain above the broader support area.
The analysis suggests that reclaiming the $90 to $100 range could strengthen the likelihood of a recovery; in that event, the $120–$150 range and subsequently the $220–$240 zone would be the levels to watch.
The last two lows observed in the Relative Strength Index (RSI) also indicate that selling pressure may be easing. The current RSI level has recovered to approximately 41. However, this outlook alone does not confirm a definitive change in direction.
In the short term, a sustained drop below the $50 to $60 range could undermine expectations of a bottoming-out process. Therefore, the market's primary focus will be on whether the support zone holds and whether the $100 mark can be reclaimed.
$SOL
Solana is attempting to hold its ground within the critical support zone of $55 to $70.
If SOL rises above $100, the $120–$150 band and subsequently the $220–$240 range could come into focus.
While the $200–$300 range is highlighted on the weekly chart, a target exceeding $1,000 is considered speculative.
The risk of a decline could increase if there is a sustained drop below the $50–$60 band.
Following its recent decline, Solana is trading within the strong support zone of $55 to $70. A scenario for a broader recovery could gain momentum if the price climbs back above $100.
Critical threshold in a multi-year pattern
On weekly charts, SOL is hovering near the lower boundary of an expanding pattern that has been forming since 2024. The price action around the $68 level is seen as decisive in determining whether the market can successfully defend this zone. Previous tests of this same boundary have resulted in upward reactions.
An expanding pattern refers to a technical structure where the price creates higher highs and lower lows over time. In such structures, the upper and lower boundaries are monitored as zones of heightened volatility, where a breakout is crucial for determining the future direction.
According to the analysis, if the $55–$70 zone holds, the $100 level—followed by the $200–$300 range—could come back into play.
However, for a more significant bullish scenario to gain strength, the price must break above the pattern's upper trend line. The analysis assessed that this upper limit could form around $400 as the structure develops. It was emphasized that a confirmed breakout from the pattern could signal levels above $1,000 in the long term, though this remains merely a speculative target for now.
$55 to $70 Key support zone
$100 Initial threshold for a strong recovery
$200 to $300 Potential medium-term target area
$400 Resistance near the upper trend line
Above $1,000 Long-term speculative target
On the other hand, a drop below $55—and the price remaining below that level—could significantly weaken the bullish outlook. In such a scenario, the risk of deeper losses might increase.
Possibility of reaching $240 monitored on the daily chart
Similarly, the $60 to $70 range stands out on the daily chart. Although the price recently dipped briefly below the near-term consolidation zone, it has managed to remain above the broader support area.
The analysis suggests that reclaiming the $90 to $100 range could strengthen the likelihood of a recovery; in that event, the $120–$150 range and subsequently the $220–$240 zone would be the levels to watch.
The last two lows observed in the Relative Strength Index (RSI) also indicate that selling pressure may be easing. The current RSI level has recovered to approximately 41. However, this outlook alone does not confirm a definitive change in direction.
In the short term, a sustained drop below the $50 to $60 range could undermine expectations of a bottoming-out process. Therefore, the market's primary focus will be on whether the support zone holds and whether the $100 mark can be reclaimed.
$SOL
