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SOL Solana breaks through key resistance, stabilizes at $105 and targets $120.
On Friday, Solana (SOL) traded at around $105, maintaining its gains after breaking the $97.70 barrier. This level has previously limited near-term recovery and is now seen as the main support for the bullish outlook. In the short term, analysts believe the next major resistance is around $120.23, while concentrated leveraged positions have been identified in the $106 to $107 range.
Strong rebound beyond key levels
Solana's daily chart showed the token rebounded strongly from summer lows and was marked by a breakthrough of key resistance of $97.70. The move puts SOL back into the territory it was before the broader market decline earlier this year. Cryptocurrency analyst Ucan commented that Solana's breakthrough above $97.70 remained solid, with a token trading price of around $105. According to the same chart,$120.23 is the next significant resistance level. If buyers continue to push momentum beyond this point, the next technical target will be $146.56.
After clearing resistance of $97.70, Solana faced further resistance of $120.23. If buyers gain control above that range,$146.56 could become the next target. Whether SOL can maintain support at US$97.70 remains the current focus of market participants. Staying above these levels will confirm a breakthrough, providing room for a potential move to $120.23. Even a pullback to $97.70 will not completely disrupt the bullish structure as long as buyers step in and prices rebound from the region.
A decisive breakthrough of $120.23 will open the way for further recovery, with the next level on the chart being $146.56. However, any such movement would need to be clearly confirmed above $120.23. If prices briefly surge at resistance but do not consolidate that level, sustainability may be lacking. For Solana, downside risks are clearly defined. If the token falls back below $97.70, it will mark a failed breakthrough and weaken existing positive momentum. The next major support level is established at $81.35, and if $97.70 cannot be held, the risk of a wider retracement will be increased. Currently, maintaining $97.70 is critical to maintaining Solana's recent gains and maintaining the upward trend.
SOL liquidation heat chart shows short-term resistance
Solana faces important immediate tests near its current price range. Binance's clearing data showed a strong cluster of leveraged positions between $106 and $107, making it a key short-term area for market action. Concentrated clearing areas can lead to forced selling, as exchanges automatically liquidate leveraged transactions above the $106 -107 level. If buyers succeed in pushing prices beyond this dense area, the market may then focus more directly on broader resistance at $120.23.
Liquidity is also below the market, with clear clusters around $103 and between $101 and $102. Should SOL encounter a recent rejection in the upper areas, these areas could serve as temporary support. If Solana's momentum weakens, a price retreat towards $101 -103 will still keep the token above the key $97.70 breakthrough threshold. Therefore, short-term fluctuations around these levels do not necessarily negate the broader positive outlook.
Overall, as long as SOL remains above $97.70, analysts believe the bullish scenario remains valid. A breakthrough of $106-$107 could accelerate gains, drawing attention to $120.23, while a break below $97.70 indicates a weakening of the technical structure and may move towards $81.35.
Mini Dictionary: Liquidation Heat Chart
Liquidation Heat Chart is a real-time visualization tool that displays the concentration of leveraged traders 'forced clearing orders at specific price levels on specific exchanges. Clusters on a heat map can indicate areas where trading activity is likely to increase, sometimes leading to sharp price movements.
