Solana Price Teeters on Breakout as Traders Eye $115-$116

Solana's price has been recovering from its early-September lows, and traders are looking for a breakout around $115-$116. According to trader SatoshiOwl, SOL is currently compressing near $105 as it approaches this key level.

The chart shows that Solana is being held back by a descending resistance line and a rising support line, which meet near the current price of $105.67. A break above the upper trendline would be the first bullish confirmation, and SOL would then need to clear the recent $107-$108 area before making a move toward $115-$116.

However, there is also a risk that Solana's price could drop sharply after reaching $116, according to SatoshiOwl. The trader describes the outlook as bullish in the short term but much more cautious if optimism becomes excessive near this level.

A separate long-term chart from Celal Kucuker presents a more bullish scenario, with SOL potentially reaching targets of $148 and $248 before eventually challenging much higher resistance. This chart sketches a rounded recovery structure that could eventually challenge much higher resistance if SOL continues rebuilding momentum.