Saad Ullah
⬤ After dipping to last month's low around $96, Solana's price has stabilized and bounced back into its previous range. That $96 zone acted as a liquidity trap where sellers pushed the price down briefly before buyers stepped in. The quick recovery suggests there wasn't enough conviction from bears to keep pushing lower, and the market quickly absorbed the selling pressure at those levels.
⬤ Since rebounding, SOL has been stuck in a tight range just below $105. This resistance level has become the line in the sand—price keeps bumping up against it but hasn't managed to push through yet. The consolidation here shows neither bulls nor bears have full control right now, with moving averages starting to flatten out as momentum cools off.
⬤ The setup is straightforward: if Solana can break and hold above $105, the next target zone sits around $115 to $120. But if price gets rejected here and falls back below $105 after trying to break out, it would confirm the range is still in control and suggest more sideways action ahead.
⬤ What happens with Solana could signal where the broader altcoin market is headed next. With the downside already tested and resistance still holding firm, SOL is sitting at a decision point. Whichever way it breaks from this range will likely set the tone for short-term momentum across other major crypto assets.
Saad Ullah
