Solana is trading near a critical zone, with one analyst seeing a long-term buying opportunity below $100 and another warning of a possible deeper correction. The next move depends on whether SOL can hold support or reject from nearby resistance.
Solana Below $100 Could Offer Long-Term Opportunity, Analyst Says
Solana could be approaching what analyst CryptoCurb describes as a major long-term accumulation zone. The chart highlights a strategy of buying SOL below $100 and targeting profit-taking above $1,000 during a future bull market cycle.
SOL/USDT Weekly Chart. Source: CryptoCurb (@CryptoCurb) on X.
The analysis focuses on a key support area around $100, which has previously acted as an important level during Solana's market cycles. CryptoCurb argues that prolonged consolidation below this threshold could create an attractive entry point for long-term investors.
The bullish outlook is based on historical cycle behavior. The chart projects a breakout from the current accumulation range, followed by a sustained uptrend that could eventually push SOL toward the $1,000 mark. Such a move would represent a significant increase from current price levels.
For now, the key level to watch remains the $100 support zone. Holding that area would strengthen the accumulation thesis, while a sustained move lower could delay the bullish scenario.
Solana Risks Another Drop as Elliott Wave Correction Unfolds
Solana may be preparing for another leg lower, according to Elliott Wave analyst More Crypto Online. The chart suggests the recent bounce could be a temporary corrective move before a broader decline resumes.
SOL/USD Daily Elliott Wave Analysis. Source: More Crypto Online (@Morecryptoonl) on X
The analysis shows SOL rebounding from a recent low and moving into a Fibonacci resistance zone between roughly $73 and $89. This area is viewed as a potential completion zone for the current corrective wave, where sellers could regain control.
Under the bearish scenario, Solana could begin a new downward wave targeting support levels in the $45-$60 region, with the chart outlining a larger corrective structure that extends into 2027. A rejection from current resistance levels would strengthen that outlook.
For now, the key area to watch is the Fibonacci resistance zone. A break above it would weaken the bearish wave count, while a rejection could signal the start of the next leg lower.
