Solana (SOL) Soars 67% From Recent Lows — Is a Breakout Ahead?

Solana (SOL) has staged a significant rebound from its local low near $60, gaining more than 67% as buyers gradually regained control. After several weeks of consolidation, the token began forming higher highs and higher lows, improving its short-term structure and pushing the price back toward the $100 area.

With SOL now trading around $101, the market is approaching an important resistance level that could help determine whether the recovery extends further or gives way to another period of consolidation or correction.

Solana (SOL) technical analysis

SOLUSD - 1 Day Time Frame

After forming a local low around $60, SOL traded sideways for several weeks before gradually beginning to form higher highs and higher lows. This improving structure helped support the latest recovery, with the token now trading around $101.

The first and most important support area is located around $97. If SOL returns to this level, it could attract renewed buyer interest. However, a higher-timeframe close below $97 could weaken the current structure and increase the possibility of a deeper correction.

If $97 fails to hold, the next important support area would be located around $74. Buyer activity around this level would be important to monitor. A strong reaction followed by a sustained recovery above the area could indicate that buyers are beginning to regain control. For now, maintaining the $97 support area would help preserve the improving short-term structure following SOL's more than 67% recovery from its local low.

Solana (SOL) price target

If SOL continues moving higher, the first major upside target is the resistance level around $109. This area previously triggered a more substantial decline, meaning increased selling pressure could emerge again if the token approaches it.

A sustained breakout and close above $109 could strengthen the bullish scenario. If SOL subsequently manages to hold above this area during a pullback, the former resistance could begin acting as support and open the way toward the next target around $127. The third major target is located around $147. A sustained breakout above this resistance, followed by an ability to remain above the level during a potential retest, could further strengthen the broader bullish structure.

From a wider perspective, SOL continues to show signs of a constructive recovery after its strong move from the $60 low. As long as key support levels remain intact, the technical picture could continue to support further upside, with $109, $127, and $147 representing the main levels to watch.

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