Solana (SOL) Jumps 5% — What’s Next?

Solana (SOL) recorded a modest price increase on May 14, extending its monthly gains to more than 10% amid improving cryptocurrency market conditions and renewed investor interest across major digital assets.

The recent move higher comes after several weeks of relatively stable price action, raising the question of whether SOL could be preparing for a stronger recovery phase or whether the market may continue consolidating below major resistance levels.

Solana (SOL) technical analysis

SOLUSD - 1 Day Time Frame

SOL is currently trading near $93, remaining above the immediate support zone around $83, which has held consistently since mid-April 2026. The repeated defense of this level suggests that buyers continue to view the area as an important short-term support region.

From a technical perspective, the next key level to monitor is the $98 support/resistance (S/R) zone. This area has acted as a firm resistance level throughout much of 2026, with price repeatedly struggling to establish sustained acceptance above it.

If bullish momentum strengthens and SOL manages to break above $98, the market could shift focus toward the next resistance near $103, a level last revisited in February 2026. Beyond that, a broader recovery could potentially bring the psychologically important $120 level into focus, which was last seen in January 2026.

On the downside, if selling pressure increases, SOL could continue trading within its current consolidation range or revisit lower support near $79. This area may become important if the current support zone weakens.

Solana (SOL) price target

If buying momentum remains supportive, SOL could attempt another move toward $98 in the near term. A sustained breakout above this level may increase the probability of further upside toward $103, with a potential extension toward $120 if broader market conditions remain favorable.

Conversely, if momentum fades and sellers regain control, SOL may continue consolidating between the nearby resistance and support zones. A breakdown below $83 could expose lower price areas near $79, where buyers may attempt to stabilize the market again.

From a broader perspective, SOL appears to be maintaining a relatively constructive structure following its recovery from earlier 2026 lows. However, confirmation of a stronger bullish continuation would likely require sustained acceptance above the nearby resistance levels.

Crypto assets are unregulated, decentralised and highly volatile assets which entail substantial risks and you may lose all invested capital. Refer to the Disclaimers for detailed information on potential risks.