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Following
SOL Solana's weekly trading range has remained between $67.50 and $106 for the past five months, a structure closely watched by technical analysts and market participants. The current price movement stems from a volatile period in June, when Solana tested the lower edge of the range but failed to break below effectively under heavy selling pressure.
Key level with Trader Outlook
The lower boundary of Solana range is anchored at $67.50 and the upper boundary is close to $106. Cryptocurrency trader Ansem reported that Solana regained this range after briefly falling to lows during the recent high volume sell-off. Despite continued volatility, this change in price structure keeps the larger range intact.
According to Ansem, the mid-range area of $75 may become a support area, and Solana is expected to form a higher low here in the coming weeks. However, he remains cautious and believes that price movements will remain volatile until assets decisively break through the upper edge resistance of the range near $106.
Currently, Solana is retesting the resistance zone between $81.50 and $88. Market observers pointed out that if we continue to stand firm above the region, it may signal further gains and strengthen recovery expectations.
Solana's attempt to break out of the weekly range coincided with high market panic and significant selling pressure, but the currency has since regained these levels, changing its short-term structure and maintaining broader range activity.
If Solana falls below the range low of $67.50, analysts expect recovery prospects to weaken significantly. Until then, most traders will still focus on the current range.
Key price list
Support level: US$67.50 -75.00, key demand area and higher lows; resistance level: US$81.50 -88.00, instant test area; range high: US$106, main breakthrough target; expansion target: US$150, if exceeded US$106, potential target for the third quarter.
Daily and hourly chart analysis
On the daily time frame, Ansem pointed out that most recent trading activity occurred between US$78 and US$92, with the main control point close to US$85. This area is highly consistent with a previous resistance level where the rally lost momentum. He also confirmed that the sharp drop from $83 to $60 in early June had been reversed, indicating that Solana had absorbed previous downward pressure.
Ansem mentioned that if Solana's daily close near its June high of $83, buyers could push prices towards a key range high of $106. He added that historically failed downward breakthroughs have often triggered tests at the other end of a given range.
On the hourly chart, demand is concentrated between US$72 and US$75, which is confirmed as a short-term support area. If the area holds in the next few trading days, it could become a springboard for further gains. Ansem set its stop loss at $71 to deny this potential uptrend.
If Solana can stay above $72 -75, traders will view $83 -85 as a direct upside target. After breaking through this zone, the focus may return to the top of the current multi-month range,$106.
Traders see US$150 as a third-quarter target
Looking forward, Ansem lists US$150 as a possible expansion target for Solana late in the third quarter, provided it breaks through the top of the US$106 range. Ahead of the decisive move, market participants are closely watching Solana's performance in support levels of $72 -75 and resistance bands around $83 -88.
If Solana's daily closing price can stand above the June high of $83, then the range high of $106 will become the next focus. If momentum continues throughout the third quarter, a further rise to $150 is possible.
(Note: Ansem mentioned in the article is a pseudonym cryptocurrency market analyst known for providing technical analysis and trading insights on the X platform, with a particular focus on major digital assets such as Solana and Ethereum.)
