Solana Price Tests Key Resistance Zone Ahead of Potential Breakout

Solana (SOL) has been on a tear, bouncing over 70% from its June low of around $60 and now testing a key support-turned-resistance area. The Solana price is currently hovering near the $95-$115 range, which also overlaps with the 50-week exponential moving average (EMA) at $105 and the 200-week EMA at $111.

As seen in the chart, this range previously served as a key support area between 2023 and early 2026. When SOL bounced from there, it led to a 200% price rally in 2024 and a 165% rally in 2025. Conversely, breaking below this same area resulted in a 50% decline in 2026.

A similar setup occurred in 2023 that preceded a 1,000% SOL price breakout. At the time, Solana spent months consolidating near the $20-$25 region before reclaiming it as support. The subsequent breakout marked the beginning of a major bull cycle, with Solana eventually climbing from around $25 to nearly $295.

Currently, momentum is improving, with SOL's weekly relative strength index (RSI) moving above 50 without reaching overbought conditions. A breakout above $115 could put $135 and $190-$200 in focus, potentially paving the way for Solana to reach its record high near $295 or even surpass it.