Solana tested the support level of $98 and looked at $117 after breaking through

Solana's US$98 -100 range comes into focus

Solana experienced a strong rebound at the end of August, once breaking through multiple technical resistance areas, and prices are currently fluctuating around the key US$100 level. This trend has renewed market attention: Can buyers maintain upward momentum and hold on to previous resistance levels to push prices higher further?

Technical analysis pointed out that the US$98 to US$100 range is a key area to determine Solana's short-term trend. Although recent price breakthroughs have lifted SOL above this previously hotly contested range from long and short positions, analysts stressed that the region must now turn to support to continue its upward momentum.

Gordon, a market chart analyst active on Platform X, believes that if SOL can stabilize above $98, the next major resistance level will look towards $117. He pointed out that the $117 -118 region, which served as support before Solana's sharp fall in February this year, has now become the primary upward target for this round of rebound. Gordon said: "Prices are stepping back near $98, which may be a necessary test before SOL hits $117."

The technical structure highlights the importance of turning previous resistance into support. If Solana can maintain operating above $98, it will strengthen the current trend, making it expected to hit the medium-term region of $104 to $110 first and then challenge the $117 mark. However, once SOL falls below US$98, the bullish structure will be destroyed, and the possibility of hitting US$117 in the short term will be reduced. On the contrary, it will be more likely to enter a deeper consolidation stage.

On Wednesday, Solana prices were close to $100, with intraday fluctuations ranging from $98.45 to $104.36. Currently, the US$98 -100 area is regarded as a new support area. If it can be held, it may push prices towards US$117; US$104 -110 is a medium-term resistance and a potential checkpoint before hitting US$117; US$117 -118 is the main resistance, and if the support level is effective, this area will become the target.

Breakthroughs in macro downtrend bring broader optimism

Looking at the longer-term chart, Solana has broken through a downtrend line-a trend line that has suppressed attempts to rebound since its previous high of about $250. This breakthrough may mean a larger level of reversal in the market structure. If the main support level can be held, it is expected to usher in more lasting room for growth.

Wealthmanager, another analyst active on the X platform, believes that Solana's breakthrough of about $98 marks a shift in market structure and indicates that the long-standing bearish trend may end. In technical analysis, a shift in market structure (MSS) means a fundamental change in the direction of the trend.

The analysis does not expect prices to rise significantly immediately, but rather anticipates a period of volatility during which prices may drop into the $80 to $85 region-an area seen as deeper structural support-before resuming the upward move. If this low support area can be held, prices are expected to gradually recover to US$120 to US$145, and may even eventually hit the US$180 to US$250 range under favorable conditions-however, these higher targets are still theoretical.

For market participants focusing on trend reversals, the $98 to $100 confirmation area and the $80 to $85 support area will be key structural reference points to be monitored closely in the coming weeks.

Small Dictionary

Market Structure Shift (MSS)-a term for technical analysis that refers to a significant breakthrough in the price pattern defined by a trend, which usually means that a new trend direction may open.

Network development and market macro environment

Macroeconomic factors are still unfavorable factors facing digital assets, including Solana. The strengthening US dollar, rising US bond yields and regional geopolitical uncertainty have together created an unfavorable risk environment. Major cryptocurrencies such as Bitcoin and Ethereum have also been under pressure and fell this week.

Meanwhile, Solana Networks is preparing for a possible upgrade at the end of the month. The core development team Anza has set a tentative timetable for the release of Agave v4.3. It plans to promote the full adoption of the main network as early as September 21, and enable the main network testing function for the upgrade of Alpenglow starting from September 28. Both dates may be adjusted based on actual conditions.

Combining the above technical and fundamental signals, the price range of US$98 to US$100 remains Solana's core focus area in the short term. If this area can be successfully held, it will open up space for a subsequent impact of US$117; on the contrary, once it falls, it may mean that a deeper backstep test is needed before the rebound can be reorganized.