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Following
SOL Solana sticks to key demand areas and targets a $90 breakthrough
Solana is still at the lower edge of its rising price structure, with a potential rebound target pointing to the $83 to $90 range. Analysts pointed out that if it clearly breaks through this zone, the price may further look at US$106; while a break below US$72 may indicate that the cryptocurrency's upward trend is weakening.
Solana protects key demand areas
After experiencing selling pressure in June, Solana (SOL) has returned to the five-month range that has determined its price trend since February. The key demand area between $72 and $75 remains the focus, and holding this area is expected to form higher lows and push prices again towards $83 to $85, before potentially challenging the range high near $106.
The wider trading range for SOL is US$67.50 to US$106. Although the token briefly fell below this threshold during the June sell-off, buyers quickly fought back and prevented a sustained break. Most trading activity is concentrated between $78 and $92, with the highest volume around $85. Market observers stressed that if the daily price closes above US$83 near its June high, it will reintroduce prices into this high-volume area, thus supporting the view that prices will return to the resistance level of US$106.
Solana's ability to maintain support above US$72 to US$75 is critical as it could confirm the formation of higher lows and lay the foundation for a new rally towards US$83 and above.
In the short term, bulls are working to hold on to the $72 to 75 range and regain the $76 to 78 level. This means that the recent correction is corrective rather than the beginning of a new downtrend. Conversely, failure to hold these levels may strengthen bearish sentiment and risk further declines.
Channel structure and resistance levels
Solana is currently retesting the bottom of a broader rising channel after an orderly pullback from the US$83 region. Holding this support helps maintain the bullish structure and could push prices towards $90.
SOL's recent weakness unfolded in a smaller downtrend channel, suggesting that the correction may be corrective. Breaking through this local channel, especially when SOL regains the $77 to $78 area, will be a signal that buyers are regaining momentum. After a successful breakthrough, SOL may rise to resistance levels of US$82 to US$84 (where the last significant rally was suspended), and may then further challenge the channel's upper boundary near US$88 to US$90.
It is clear that closing at US$83 to US$85 will strengthen the bullish trend, but until Solana can stabilize above US$106, price movements may remain volatile, which may eventually signal a move towards US$150 later in the cycle.
However, the bullish outlook still depends on holding the $74 to $75 region. If the channel is clearly broken, SOL could test below the $72 level, with more solid support between $68 and $70. If Solana loses support below $71 and re-hits $62 near its June low, it could invalidate the rebound structure and further shift momentum to sellers.
Mini Dictionary
Rising channel: A chart pattern characterized by rising highs and rising lows, indicating that assets are trading between two parallel upwardly sloping lines. As long as prices remain within the channel, this pattern usually signals a bullish trend.
Key support and resistance levels
US$67.50: Support level, lower boundary of the trading range
US$72 - 75: Key support level, potentially higher lows
US$76 - 78: Short-term resistance level, signal buyer return
US$83 - 85: Main resistance level, previous rebound highs
US$88 - 90: Channel resistance, upper boundary target
US$106: range high, cyclical resistance
US$62: support, June low, rebound will be invalid if the rule is violated
