Solana continues to attract attention as price action shifts between recovery and resistance zones. The asset rebounded sharply after holding a key support level, signaling renewed short-term strength.
Market participants now watch whether this upward move can sustain momentum or face rejection at overhead supply. With volatility increasing, analysts highlight both immediate trading opportunities and broader structural trends shaping Solana’s trajectory.
Short-Term Recovery Faces Key Resistance
Solana shows renewed bullish momentum after testing critical support near $86. This rebound highlights growing buying interest at lower levels.
According to Crypto Hawk, the move toward $91.82 reflects improving bullish momentum. However, resistance near $96 remains a critical barrier.
Besides, price structure on the 4-hour chart shows a temporary shift in momentum. The asset attempts to break a pattern of lower highs. This suggests buyers are regaining short-term control. However, traders remain cautious as price approaches a known liquidity cluster.
$93–$95 Zone Signals Possible Rejection
The Moon Show identifies the $93 to $95 range as a strong reaction zone. This level aligns with previous breakdown areas and concentrated supply. Additionally, Fibonacci retracement levels between 0.618 and 0.786 support this view.
Consequently, price may move higher to capture liquidity before reversing. This pattern often appears during short-term recoveries within broader consolidation phases. If rejection occurs, Solana could revisit support between $88 and $90.
Moreover, a deeper pullback toward $86 remains possible if momentum weakens further. However, a decisive breakout above $95 would invalidate the bearish setup. Such a move could open the path toward $98 and possibly $100.
Long-Term Structure Remains Constructive
James notes that $SOL’s weekly structure forms a rounded bottom transitioning into a broader uptrend. While short-term momentum appears weak, the macro outlook remains constructive.
Source: X
The descending channel from early 2024 could soon give way to higher price targets. Measured moves suggest potential gains toward $200–$300 if the breakout occurs.
Over time, Solana’s network growth and liquidity cycles imply asymmetric upside, with projections potentially extending toward $1,000. However, a failure to hold $85 support could expose $SOL to a decline near $60.
Price Data Reflects Mixed Sentiment
Current market data shows Solana trading near $91.32 with solid daily gains. The asset posted a 6.32% increase over the past 24 hours. However, it still reflects a weekly decline of 4.62%, indicating mixed sentiment.
Source: https://coinpaper.com/15649/solana-rebounds-sol-eyes-96-resistance-after-testing-86-support
