Solana is pressing into a key resistance zone, but analysts are split on whether this is the start of a bigger recovery or a trap for late buyers. A clean reclaim of $78 could open the way toward $95, while a failed breakout could send SOL back toward $63.
Solana Chart Shows Possible Bottom as $78 Reclaim Becomes Key
Solana is trading near $75.50 as one analyst says SOL could be close to a larger bottom, but the chart still needs a clear reclaim of its longer-term trend before confirming a stronger uptrend.
SOL/USDT chart. Source: Mercury on X, TradingView.
The chart shows SOL trying to move back toward the $77-$78 area after a sharp decline from previous highs. This zone is important because it marks the lower edge of a prior multi-month range.
According to Mercury, a stronger bullish signal would come if SOL reclaims the longer-term trend and moves back inside its previous four-month range. That would suggest the recent drop was a deviation rather than the start of a deeper breakdown.
The first key area to watch is near $78. A clean move above that level could give buyers more control and open the door to a move toward the next resistance zone near $95.
If momentum continues, the chart points to a larger upside area near $122. That level marks another major resistance zone and would likely require stronger confirmation before becoming the main target.
For now, the setup is still early. SOL needs to reclaim the $77-$78 range first, while a rejection from that area would keep the market vulnerable to more sideways or bearish price action.
Solana Faces Rejection Risk Near Range High
Solana is trading near $75.66 after pushing into a key resistance zone, and one trader says the move could turn into a short setup if bulls fail to hold the breakout
.The chart shows SOL testing the top of its recent range around the $75-$76 area. That zone is marked as resistance, and price has already pushed above nearby highs, which suggests liquidity above the range may have been taken.
According to TraderJqrit, this matters because breakout traders may now be chasing the move higher. If that breakout fails, the setup could trap late longs and shift momentum back to the downside.
The bearish scenario depends in part on Bitcoin. The trader says a lower-timeframe shift in BTC could support a SOL reversal and make a short trade back toward the range lows more attractive.
The main downside area on the chart sits near $63.33. That level is marked as the zone to hold and lines up with the lower part of the recent range.
For now, the key question is whether SOL can turn the breakout into a real continuation move. If it cannot, the chart suggests rejection from range highs could send price back toward the $63 area.
