Solana traded at approximately $105 on Friday, maintaining gains after surpassing the $97.70 barrier. This level had previously limited the recent recovery and is now considered the main support for the bullish outlook. Over the short term, analysts see the next major resistance near $120.23, with concentrated leveraged positions identified around the $106 to $107 range.
Strong Recovery Beyond Key Levels
The daily chart for Solana shows the token rebounding sharply from its summer lows, punctuated by a key breakout through the $97.70 resistance. This move returned SOL to territory last seen before a broader market downturn earlier in the year.
Crypto analyst Ucan commented that Solana’s breakout above $97.70 had held firm, with the token trading around $105. According to the same chart, $120.23 stands out as the next significant resistance. Should buyers sustain momentum beyond this point, the next technical objective would become $146.56.
After clearing $97.70, Solana faces further resistance at $120.23, and if buyers gain control above this range, $146.56 could come into play as the next target.
The ability of SOL to maintain support at $97.70 remains the immediate concern for market participants. Staying above this level would confirm the breakout, providing space for a potential move to $120.23. Even a pullback to $97.70 would not completely harm the bullish structure if buyers step in and the price rebounds from this area.
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AAPLA decisive break above $120.23 would open the path to further recovery, with $146.56 as the next level on the chart. However, any such move requires clear confirmation above $120. A brief price spike through resistance, without securing this level, could lack staying power.
The downside is clearly defined for Solana. Should the token fall back below $97.70, it would mark a failed breakout and weaken existing positive momentum. The next major support is established at $81.35, increasing the risk of a more significant retracement should $97.70 not hold.
As of now, preserving $97.70 is central to sustaining Solana’s recent gains and maintaining the upward trend.
SOL Liquidation Heatmap Shows Short-Term Resistance
Solana faces an important immediate test closer to its current price range. Binance liquidation data highlights a strong cluster of leveraged positions between $106 and $107, marking it as a crucial short-term zone for market action.
A concentrated liquidation area can result in forced selling as exchanges automatically close levered trades above the $106-$107 level. If buyers succeed in driving the price above this dense pocket, the market could then focus more directly on the broader resistance at $120.23.
Liquidity also sits below the market, with notable clusters around $103 and again between $101 and $102. These areas are likely to act as temporary support if SOL experiences near-term rejection around the upper zone.
If Solana’s momentum were to fade, a price retreat toward $101-$103 would still keep the token above the vital $97.70 breakout threshold. Therefore, short-term volatility around these levels does not necessarily invalidate the broader positive outlook.
Overall, as long as SOL remains above $97.70, analysts believe the bullish scenario remains valid. A move above $106-$107 could accelerate gains, drawing attention toward $120.23, while a sustained drop below $97.70 would signal a weakened technical structure and a possible move toward $81.35.
| Level | Type | Significance |
|---|---|---|
| $146.56 | Resistance | Long-term upside target after breakout |
| $120.23 | Resistance | Next major objective for bulls above current range |
| $106-$107 | Liquidation Zone | Short-term resistance due to leverage concentration |
| $103, $101-$102 | Support | Minor support zones below current price |
| $97.70 | Critical Support | Key level determining bullish/bearish outlook |
| $81.35 | Support | Major downside protection if $97.70 fails |
Mini dictionary: Liquidation heatmap, a real-time visualization tool showing the concentration of forced liquidation orders for leveraged traders at specific price levels across exchanges. Clusters on the heatmap can indicate zones where increased trading activity is likely, sometimes leading to sharp price moves.
