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SOL Solana breaks through $97.70, establishes key support
Solana (SOL) traded around $105 on Friday after breaking through $97.70 resistance. This level, which previously limited the latest rally, has now transformed into a key support level in the bullish structure. The next major test target is located near $120.23, while short-term liquidation data shows a large concentration of leveraged positions in the $106 to $107 range.
SOL's daily chart shows a strong rally from summer lows and a clean break through the resistance level of $97.70. The breakthrough pushed Solana back above $100, entering the trading territory it was in before the deep sell-off earlier this year.
Crypto analyst Ucan pointed out that SOL remains solid after breaking through $97.70 and is currently trading at around $105. The chart shows that the next major resistance is $120.23; if buyer power can continue the rally, the subsequent target is $146.56.
The current core question is: Can SOL hold the support level of $97.70? If it is maintained above this level, the breakthrough pattern will be retained and room for further climbing towards $120.23. Even if there is a correction to around $97.70, as long as buyers can defend against the front resistance and push prices back, this technical structure will not be materially damaged.
Once it effectively breaks through US$120.23, it will further consolidate the recovery momentum and clear another important upper obstacle. After that,$146.56 will become the next chart target. However, this scenario requires confirmation above $120.23, rather than just briefly crossing that level.
The downside risks are equally clear. If the price continues to fall below $97.70, it means that the breakthrough failed and the current bullish structure will be weakened. The next major support level marked on the chart is $81.35. If $97.70 falls, SOL will face the risk of a significant retracement.
Currently, US$97.70 is the key watershed in determining whether the latest rally is intact.
SOL Liquidation Heat Chart highlights the US$106 -107 pressure zone
The immediate challenges faced by SOL are closer to current market dynamics. The Binance SOL/USDT 24-hour clearing heat chart shows that there is a very strong clearing liquidity concentration area just above the current price, with the center located in the US$106 to US$107 area.
As SOL attempts to extend its breakout trend, this dense area may become a key position in the short term. Entering a high-concentration clearing area may cause leveraged traders to be forced to close their positions, and the exchange's automatic closing mechanism sometimes accelerates price fluctuations.
Heat charts show particularly strong liquidity around US$106 above SOL's recent trading range. If buyers push prices beyond the zone and stabilize, visible resistance above the market will decrease, making the larger $120.23 technical target clearer.
There is also meaningful liquidity underneath the market. There is a concentrated distribution in the US$103 and US$101 to US$102 areas. If SOL encounters rejection near US$106 to US$107, these lows will become potential downward support that needs to be paid attention to.
If the upward momentum weakens, these lower areas will become more important. Even if it falls back into the US$101 to US$103 range, SOL will remain above the key US$97.70 breakthrough level, which means that the overall technical structure remains intact despite short-term fluctuations.
To sum up, as long as the Solana price remains above US$97.70, the outlook remains promising. Successfully conquering US$106 to US$107 will enhance short-term momentum and make US$120.23 the focus; while losing US$97.70 support will destroy the breakthrough pattern and increase the risk of prices moving towards US$81.35.
