Solana's $100 Showdown: Can Buyers Hold On for $300?
Solana (SOL) is trading near $100 after a strong rebound in late August. If buyers can hold onto this level, it could push SOL towards $300.
The current chart setup suggests that the immediate battleground for SOL is around $98-$100. This area was previously resistance and now serves as support. If SOL can defend this zone, it would strengthen the case for a further move upwards, potentially targeting $117-$118.
However, if SOL breaks below $98, it could weaken the immediate setup and invalidate the chart's direct $98-to-$117 scenario. This would increase the probability of a deeper consolidation or even a broader retest before SOL gets another chance to extend its recovery.
Solana has also broken above a descending trendline that controlled price action from previous highs near $250, marking a potentially more important development in its market structure.