Solana Price Hits Crucial Resistance Zone as Bullish Market Structure Targets $140
Solana's price has been testing the crucial $112-$115 resistance zone as its improving market structure and record on-chain activity bring $125 and $140 within reach. The current Solana price is trading near $108.79 after declining approximately 3.47% over the past 24 hours.
According to an update shared by HK, Solana has recorded an important market structure break on the higher-timeframe chart after recovering from its recent lows. This move above the previous lower high near $96 suggests that buyers are beginning to challenge the bearish structure that controlled price during the earlier decline.
The setup shared by HK shows SOL trading above the former breakout level, with a potential retest of the $80-$96 demand region before another expansion develops. This zone remains important because holding it would support the newly established bullish structure and allow buyers to prepare for a move towards higher resistance.
However, there is still risk involved as Solana's next major supply area sits around $125-$145, where previous price action could attract selling. A sustained recovery into this region would strengthen the longer-term reversal scenario, while a decisive break beneath the broader demand zone would weaken it.