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Following
SOL Solana's market resilience has attracted attention.
In the past five months, Solana's price trend has remained within the critical range of US$67.50 to US$106. Despite the market turmoil, it has not broken down as expected. This price behavior followed sharp swings in June, when Solana tested the lower limit of the range under selling pressure, but never fell below. As prices approach key resistance levels, market participants are reassessing the potential of this asset.
How do traders layout?
Traders are closely watching key price levels, with the $67.50 to $75 range being seen as a support area where Solana could form a higher low. Currently, Solana is challenging the resistance level between US$81.50 and US$88. If it successfully breaks through, it is expected to trigger a new round of gains. Recent high trading volumes have prevented Solana from completely breaking its position, allowing it to maintain its current range.
Can Solana break the upper limit?
The key battle range is between $81.50 and $88. A decisive breakthrough in the area could change market sentiment and spark bullish momentum. Volatility is expected to continue until Solana successfully crosses the $106 mark. The current price trend has traders on guard because a break below $67.50 could severely weaken its recovery.
Market analysis by well-known trader Ansem pointed out:
"Solana tried to break out of the weekly range, coinciding with high market panic and significant selling pressure, but the coin then recovered these levels, changing the short-term structure and keeping the larger range active."
A breakthrough of US$83 could push prices towards the upper limit of the range. Ansem lists $150 as a potential target, provided those obstacles are overcome.
Key price list
Support range: US$67.50-US$75, crucial to demand
Resistance range: US$81.50-US$88, the primary challenge currently facing
Range peak: US$106, key breakthrough point
Extended target: US$150, which needs to be successfully exceeded US$106 before it can be achieved.
In addition to maintaining the range, traders also realize that US$83 to US$85 is an intermediate step. If the region is successfully established, the market focus will shift back to the cap and lay the foundation for long-term gains after continued gains. Solana's prospects for the third quarter depend on whether it can break the $83 mark.
