Solana (SOL) is approaching a decisive technical level, prompting varied predictions from crypto analysts. According to a weekly price chart shared by Binance, Solana faces two distinct long-term scenarios: either a breakout to the upside from current levels, or a potential test of lower support zones before any recovery.
Key technical indicators signal critical levels
On the weekly chart, Solana is trading near $85.72 after a significant recent decline, placing it at the lower boundary of a broad price range. Analyst Crypto Patel highlights that SOL has been consolidating within the $50 to $70 accumulation zone, currently staying above this area but still below its primary resistance barrier.
The featured chart points to the main breakout zone around $98.80, which aligns with the Fibonacci 0.382 level. Should the price manage to surpass this threshold, the next upside targets could range from $262 to $297.
Beyond the bullish scenario, analysts also warn of key lower support levels, notably at $50.02, $30.81, $26.36, and $16.62. On a monthly timeframe, support sits around $32.89, with the historically strongest base recorded at $9.85.
Crypto Patel further notes several positive drivers for a possible price increase: the value of assets held in Solana ETFs now equals roughly 2% of total supply, ETF net inflows have surpassed $1.12 billion, and total ETF fund size is nearing $1.01 billion. Additionally, the upcoming Alpenglow update could reduce transaction confirmation times from 12.8 seconds to just 150 milliseconds.
Another factor is that Solana ETFs offer staking rewards, an option not currently available in comparable Bitcoin and Ethereum funds. Clarity around Solana’s status as a digital commodity, coupled with growing institutional interest from firms like Dartmouth, Morgan Stanley, and Franklin Templeton, adds further support.
Short-term correction risks remain
Technical signals and broader market sentiment suggest that if Solana cannot break through the $98 to $100 range, the price may trend sideways or face renewed selling pressure in the short term. Only a lasting move above this band could confirm a resumption of the upward trend.
Meanwhile, analyst Celal Küçüker’s daily chart observations show Solana retracing from $100.23. The trendline support now lies near $80.42; if the price fails to hold this level, a decline toward the $50 to $55 zone could follow.
Previously highlighted strong resistance areas at $140, $68, and $100 have now shifted, with Küçüker identifying new targets of $50 to $55 on the downside and above $300 if bullish momentum returns.
The technical outlook suggests that after first testing these lower support levels, Solana could once again explore lasting bullish scenarios. Unless SOL can secure daily closes above $100, any recovery attempts are likely to remain limited.
In summary, Solana investors are closely monitoring both upward and downward scenarios. The direction of the coming breakouts will play a decisive role in shaping future price action.
