Solana Eyes $132.93 as Key Confirmation Point for Sustained Recovery

Solana's price has recovered from its summer lows, and the cryptocurrency is now trying to establish the $100 area as support. This move has improved the short-term technical picture, but it still needs confirmation.

According to two daily charts, Solana needs to hold above the reclaimed $100 region and break through $110.15 to strengthen its case for a sustained recovery. If it fails to do so, the token may be vulnerable to another pullback toward recently reclaimed support.

The Fibonacci retracement levels also play a crucial role in Solana's price prediction. The 38.2% level at $110.15 is a key confirmation point, and breaking above it could shift attention towards $132.93, followed by $160.42. However, the broader resistance zone extends as high as $209.63.

The Elliott Wave interpretation on the chart still classifies the rise from the June low as corrective, which means that Solana can continue climbing without yet proving that the larger bearish structure has ended.