Solana (SOL) is trading at $102.04, down 1.87% in the past 24 hours, with a market capitalization of $60.29 billion. The token remains above a critical support zone of $94.50–$95.50, while consolidating below the $110.15–$209.63 resistance region. Technical analysts, including More Crypto Online, view the recent recovery from June’s low as corrective, potentially completing a Wave (4) pattern before another upward move. A breakout above the $109.50–$110.50 resistance could target $116.50, while losing the support zone would threaten the bullish structure.
Solana (SOL) is trading at $102.04 at the time of writing, with a 24-hour trading volume of $7.08 billion and a market capitalization of $60.29 billion. The token holds a market share of 2.30% of the entire crypto market and has lost 1.87% in price over the last day.
Despite the daily decline, SOL remains above the crucial $94.50–$95.50 support zone. According to technical analysis provided by More Crypto Online, SOL is in a local uptrend but continues to consolidate below the $110.15–$209.63 resistance region.
The analyst stated that the move from the June low has been corrective in nature, and it may represent the completion of the Wave (4) pullback that is going to be followed by another upward wave. The $94.50–$95.50 range currently acts as the main support level.
Holding above this range would preserve the rising technical structure and support continued bullish momentum. Conversely, failing to hold above this range would damage the technical picture.
The closest resistance is at the $109.50–$110.50 range. A successful move above it could confirm that buyers are regaining control, with the first upside target around $110, followed by $112.50.
Technical projections see $116.50 as the target for Wave (5) in the proposed structure. This requires SOL to move through the $110 resistance and consolidate above the breakout region. Failure to do so may see the cryptocurrency trade sideways within the support-resistance region.
