Solana holds its ground in the 55 to 70 dollar range! What are analysts saying about a move above 100 dollars?

Solana has found stability in the 55 to 70 dollar support zone following its recent pullback, with current price action matching the levels where previous rebounds have started. According to analysts, this corridor is crucial; a return above 100 dollars could set the stage for a broader market recovery for SOL.

A key threshold in the multi-year formation

On weekly charts, Solana has been trading near the lower boundary of a broadening formation that has developed since early 2024. With trading focused around 68 dollars, market watchers say defending this region will be decisive. Historically, tests of this support have been followed by upward momentum.

Mini glossary: A broadening formation is a technical pattern where prices make higher highs and lower lows over time. Volatility tends to increase in these structures, with the upper and lower lines acting as key reference points for trend shifts and potential breakouts.

Yet, for any robust long-term bullish scenario to materialize, SOL must escape above the pattern’s upper trendline. Analysts estimate this ceiling could form around 400 dollars if the formation continues to evolve. They emphasize that a confirmed breakout from this structure might target levels above 1,000 dollars in the long run, though they currently consider such projections speculative.

If SOL slips below the 55 dollar threshold and remains there, the bullish outlook may deteriorate sharply, raising the risk of further losses.

Eyeing the 240 dollar target on daily charts

On the daily timeframe, the 60 to 70 dollar band stands out as a vital region. Analyst Aman notes this area marked a decisive breakout during the previous market cycle. Recently, while SOL briefly dipped below the short-term congestion zone, it has managed to hover above the broader support corridor.

The latest double bottom in the relative strength index points towards a weakening in selling pressure. The current RSI has recovered to around 41. However, experts caution that this shift is not a guaranteed sign of a definitive trend reversal on its own.

A sustained move below the 50 to 60 dollar range in the short term could undermine expectations of a solid base forming for SOL. As a result, the marketplace is mainly focused on whether the major support zone will hold—and, crucially, if SOL can reclaim the 100 dollar milestone soon after.

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