Solana Holds Key Support Zone Amid Targeted Upside Levels
Solana is trading near the key $73-$75 support zone after its recent breakout, keeping the short-term recovery case alive. Traders are watching $80 and $85 as the next upside levels.
According to EliZ's chart analysis, Solana broke above the area that previously capped its advance and is consolidating just above the highlighted support area. The main level to watch is indeed $73-$75, holding which would support the bullish interpretation. A stronger rebound could bring $80 into focus as the first upside objective, followed by $85 and potentially even $87.20.
However, Echo Analysis is taking a more cautious short-term view on Solana, arguing that the current bounce may not mark the final low. They expect Bitcoin and Ether to make new lows, which could drag Solana lower with the broader crypto market. If that happens, the next major level on the chart is the 0.887 Fibonacci retracement at $37.10.
Despite this caution, the long-term projection is much more aggressive. Once the correction is complete, the chart maps a potential wave 3 advance toward the 1.618 Fibonacci extension near $416.24, representing an indicated move of roughly 1,047% from the deeper support area.