Solana is holding near a key $73-$75 support zone after its recent breakout, keeping the short-term recovery case alive as traders watch $80 and $85 as the next upside levels. A separate weekly Elliott Wave outlook remains more cautious, warning that SOL could revisit $63.89 or even $37.10 before a larger bullish cycle targets substantially higher prices.
SOL Holds Bullish Structure Above the $73-$75 Support Zone
Solana is consolidating near $75 after breaking above the area that previously capped its advance. The chart suggests the breakout structure remains intact for now, with the $73-$75 region acting as the key zone that could determine whether SOL extends its recovery or slips back into its former range.
Solana SOL 4-Hour Chart. Source: EliZ (@ ) on X
The 4-hour SOL/USDT chart shows price stabilizing around $75.5 after its earlier push higher. According to EliZ, the move followed the expected setup, with SOL breaking through the identified level before beginning its rally. Price has since pulled back and is consolidating just above the highlighted support area.
The main level to watch is $73-$75. Holding this zone would support the bullish interpretation because it would show buyers defending the former breakout area rather than allowing SOL to fall back below it. The chart also shows price trading close to the Ichimoku cloud, making a sustained move away from the current consolidation area an important confirmation signal.
A stronger rebound could bring $80 into focus as the first upside objective. If buyers clear that level and momentum continues, the next target shifts toward $85 and above. The chart also marks a higher horizontal level near $87.20, which could become relevant if SOL develops a broader upside move.
However, the bullish scenario depends on support holding. A decisive break below $73 would weaken the current structure and invalidate the immediate continuation setup, increasing the risk of a deeper pullback.
SOL Weekly Chart Points to $63.89 Support Before a Larger Bullish Wave
Echo Analysis is taking a more cautious short-term view on Solana, arguing that the current bounce may not mark the final low even though SOL is reacting well from an important Fibonacci level.
Solana Weekly Elliott Wave. Source: Echo Analysis (@EchoAnalysis) on X
The weekly chart shows SOL bouncing from the 0.786 Fibonacci retracement at $63.89, with price currently trading around the mid-$70s. That reaction keeps the immediate structure constructive, but Echo Analysis is not treating the bounce as confirmation that the correction has ended.
The analyst expects Bitcoin and Ether could still make new lows, which could drag Solana lower with the broader crypto market. If that happens, the next major level on the chart is the 0.887 Fibonacci retracement at $37.10.
That area is marked as the potential completion zone for wave C and the larger corrective wave (2). In other words, a move toward $37.10 would fit the analyst’s Elliott Wave structure before the next major bullish phase begins.
The long-term projection is much more aggressive. Once the correction is complete, the chart maps a potential wave 3 advance toward the 1.618 Fibonacci extension near $416.24, representing an indicated move of roughly 1,047% from the deeper support area.
For now, $63.89 is the first level to watch. Holding above it would strengthen the case that SOL may already be forming a base, while a decisive break below it would make the deeper $37.10 support zone more relevant.
