Solana (SOL) is currently trading around $108.79 after a 3.47% decline in the last 24 hours, retreating from an intraday high of $112.39. The correction places SOL near short-term support at $107.50, with traders closely monitoring whether buyers can maintain control or if the decline will deepen.
Key bullish breakout and technical setup
SOL recently broke through a significant technical level when its price moved above $96, erasing a previous lower high and signaling a potential shift toward a bullish trend. Technical analysts suggest that this move marks the end of the prior bearish market structure, opening the door for further recovery.
Market analyst HK indicated that Solana is now positioned above its old breakout zone, with the possibility of testing the $80 to $96 support region before any continued upward movement. Maintaining price action above this range would reinforce the new bullish setup.
HK noted that SOL marked a decisive market structure break, turning its technical outlook to bullish. Current dips are viewed as potential buying opportunities, as long as Solana holds above the critical demand zone.
The next resistance is clustered between $125 and $145, a region that previously saw increased selling. A successful move past the $115 barrier could trigger a push toward these higher targets and potentially support a sustained reversal in sentiment.
If current levels falter, focus may shift to the lower support band around $80 to $90, where buyers have historically entered the market.
Mini dictionary: Market structure break refers to a technical shift on a chart when price action moves past previous highs or lows, signaling a potential trend reversal or acceleration.
Weekly VWAP resistance and price targets
Solana is facing significant resistance at the weekly VWAP (Volume Weighted Average Price) level, currently near $115.58. Analyst DocXBT showed that SOL recently approached $112.91, just below this upper boundary, which has acted as a technical ceiling following the asset’s recovery from the $60 to $80 range.
A confirmed weekly close above the $115 VWAP resistance would bolster the case for a trend reversal on higher timeframes. If the price fails to break this level, analysts see a risk of retreating to the $80 to $90 support zone. Until a breakout occurs, the recovery remains tentative.
DocXBT highlighted that Solana’s 365-day rolling VWAP and major support/resistance levels are converging, representing a critical hurdle for the ongoing rally.
| Key Level | Support/Resistance | Implication |
|---|---|---|
| $80 – $96 | Support | Potential bounce zone if correction deepens |
| $112 – $115 | Resistance | Breakout could validate bullish reversal |
| $125 – $145 | Resistance | Main target if above $115 confirmed |
Network activity and next moves
On-chain activity is also climbing, providing additional context for the technical setup. Solana reported daily active stablecoin addresses reached 888,000 in September, marking a 269% increase from 333,000 a year ago. This rising network usage may strengthen the bullish outlook if price levels align.
Despite the surge in usage, technical levels remain in focus. Immediate support is at $107 to $108, with further layers at $102 to $104 and $97 to $100. The next resistance zone at $112 to $114 must be cleared for upside momentum to resume.
If SOL can hold support above $100 and close above $115, attention will shift toward $125 and then the $140 to $145 supply zone. A close below $96, however, could put renewed pressure on the $80 to $90 area.
As of the latest price action, Solana continues to fluctuate within the $100 to $115 range, with upcoming sessions likely to decide the direction of the next major move.
