A recent analysis highlighted the potential of Solana, and since the initial entry point, the price has reached the first target, approached the second, and achieved an approximate gain of 30%.

A pullback has since followed, raising a key consideration for market participants: Is this a point to sell, accumulate, or await further confirmation? Below is an updated look at the current setup.

Solana technical analysis

SOLUSD - 4 Hour Time Frame

The original entry setup was based on a liquidity sweep followed by a confirmed close above a key resistance level. Within this structure, a Stop Loss could have reasonably been placed below a defined internal low. Additionally, a daily close below the second support zone—identified by horizontal lines—could have justified a partial reduction in exposure.

This breakdown scenario, however, did not occur. As noted, the price reached the first Buy-Side Liquidity target, potentially allowing for partial profit-taking, and subsequently extended gains by more than 30%.

Solana price target

Following a strong impulsive move to the upside, it may be appropriate to consider adjusting the Stop Loss. One possible strategy involves moving the Stop Loss into positive territory to protect gains, while maintaining sufficient room for the position to remain active during short-term fluctuations.

Positioning it just below key technical levels—such as the minimum identified on the accompanying chart—could provide a balance between profit protection and avoiding premature exits due to minor volatility.

Potential New Opportunity

For those not yet positioned or considering increasing exposure, a new setup could be forming. On the 4-hour chart, a significant resistance zone (marked in orange) has emerged during the recent correction. This area may play a critical role in the next directional move.

A confirmed 4-hour close above this resistance zone could be interpreted as a potential signal for initiating or scaling into long positions, contingent on further confirmation and alignment with individual risk parameters.