Solana is holding near $103 after reclaiming an important former resistance level around $98, keeping the near-term recovery intact despite signs that the broader correction may not be finished. Technical setups point to $110 as the next major test, while a sustained breakout could eventually shift attention toward the $146-$152 resistance zone.
SOL Holds Key Support as Wave 4 Consolidation Continues
Solana’s short-term structure remains constructive above $98, but the rebound is still developing inside what More Crypto Online describes as a corrective Elliott Wave pattern rather than a confirmed new impulsive advance.
Solana SOL Wave 4 Support. Source: More Crypto Online on X
SOL was trading around $103 after recovering from the latest pullback, with the chart placing immediate Fibonacci support at $102.50, $101.51, $100.53 and $99.14. The cluster creates a relatively tight support area beneath the current price and gives traders a clear level for judging whether the bounce can continue.
More Crypto Online said Solana remains in a corrective wave 4 consolidation after its rejection near $110. The analyst sees the recent price action as a series of overlapping three-wave moves, a structure commonly associated with corrections rather than a clean directional trend.
Under that scenario, SOL could still move above the Sept. 3 high as part of a B-wave rebound before a C-wave decline completes the larger correction. That makes $110 an important resistance level rather than confirmation by itself.
The deeper support zone sits between $90.46 and $94.83. Holding that area would preserve the possibility of another wave 5 advance once the correction runs its course. A decisive break below the zone would weaken the bullish interpretation and suggest the pullback is extending further than anticipated.
Solana Reclaims $98 as Traders Look for Another Trend Leg
A broader price structure also highlights the importance of SOL’s move back above the upper-$90 area. The recovery has pushed Solana above a level that repeatedly influenced price earlier in the year, strengthening the case that buyers are attempting to turn former resistance into support.
Solana SOL 98 Dollar Breakout. Source: TraderSZ on X
TraderSZ said he added to SOL long positions and expects another trend leg higher, while identifying a clean break below $90 as the point that would invalidate the setup.
The chart marks roughly $98.39, labeled as the previous quarter’s high, as the immediate level to defend. SOL’s ability to remain above that threshold would support the breakout structure and keep the recent advance from the $70 area intact.
The next obstacle is the recent swing area around $110. Clearing that level with sustained buying would strengthen the bullish case and leave relatively little marked resistance until a much larger supply zone around $146-$152.
That higher zone represents a more ambitious target rather than an immediate forecast. SOL would first need to hold above $98, establish strength beyond $110 and avoid falling back below $90.
For now, the technical picture leaves Solana at a decision point: support between roughly $98 and $100 favors another attempt higher, while a loss of $90 would materially weaken the recovery and put the bullish continuation scenario under pressure.
