Solana Price Hinges on Key Support Zone at $98-$100
Solana's price has been on a rollercoaster ride in recent weeks, breaking through the $100 level after a strong rebound in late August. However, its next move may depend on whether buyers can hold onto the support at around $98-$100.
Gordon's chart highlights this as a critical area for Solana, with a potential breakout-and-retest setup indicating that SOL could pull back into this zone before attempting to break through to $117. If the former resistance around $98 behaves as support, it would strengthen the case for another push through approximately $104-$110 and potentially towards $117.
However, if Solana fails to hold onto this level, it could weaken the immediate setup and increase the probability of a deeper consolidation or even a broader retest. This risk is particularly relevant on Wednesday, as SOL was trading near $100 after ranging from about $98.45 to $104.36 during the previous session.