Solana has held a broad weekly trading range between $67.50 and $106 for the past five months, maintaining a structure closely watched by technical analysts and market participants. The current price movement follows a volatile period in June when Solana tested the lower end of this range but failed to break below it amid heavy selling pressure.
Key levels and trader outlook
The lower boundary of Solana’s range is anchored at $67.50, with the upper boundary near $106. Crypto trader Ansem reported that Solana recently reclaimed this range after briefly dipping towards the lows during a high-volume selloff. This shift in price structure has kept the larger range intact despite persistent volatility.
According to Ansem, the mid-$70 area may act as a support zone where Solana could form a higher low in the coming weeks. However, he remains cautious, suggesting price action will remain uneven until the asset decisively surpasses the upper range resistance near $106.
Currently, Solana is retesting a resistance zone between $81.50 and $88. Market observers note that a sustained move above this area could signal further upside and strengthen the recovery thesis.
Solana’s attempt to break down from its weekly range coincided with high market fear and notable selling pressure, but the coin has since reclaimed these levels, shifting the short-term structure and keeping the broader range active.
If Solana were to break below the range low at $67.50, analysts expect the recovery outlook to weaken significantly. Until then, most traders continue to focus on the prevailing range.
| Level | Price Range | Market Significance |
|---|---|---|
| Support | $67.50-$75.00 | Key demand and higher low zone |
| Resistance | $81.50-$88.00 | Immediate test area |
| Range High | $106 | Major breakout target |
| Extended Target | $150 | Q3 potential if $106 is cleared |
Daily and hourly chart analysis
On the daily timeframe, Ansem indicated that most trading activity recently occurred between $78 and $92, with the primary point of control near $85. This area closely aligns with a former resistance level where rallies lost momentum. He also confirmed that the sharp price drop from $83 to $60 in early June has now been retraced, suggesting Solana has absorbed previous downside weakness.
Ansem mentioned that if Solana posts daily closes above the June highs around $83, buyers may push toward the key range high near $106. He added that failed breakdowns historically tend to result in tests of the opposite end of the established range.
On the hourly chart, demand is concentrated between $72 and $75, identified as a short-term support zone that may serve as a launchpad for further gains if it holds in the coming sessions. Ansem set a stop-loss at $71 for invalidation of this potential upward move.
If Solana maintains support above $72-$75, traders point to $83-$85 as the immediate upside goal. A breakout above this area could return the focus to $106, the top of the current multi-month range.
Mini dictionary: Ansem is a pseudonymous cryptocurrency market analyst known for providing technical analysis and trading insights on X, particularly focusing on major digital assets like Solana and Ethereum.
Traders eye $150 as Q3 target
Looking ahead, Ansem outlined $150 as a possible extended target for Solana later in the third quarter, contingent upon a breakout above the $106 range top. Until a decisive move occurs, market participants are closely watching how Solana behaves around $72-$75 support and the nearby resistance band between $83 and $88.
Should Solana achieve daily closes above June’s $83 highs, the range high at $106 would become the next focus, with further upside to $150 possible if momentum continues through Q3.
