Solana is attempting to extend its recovery as crypto analysts identify key technical levels that may shape its next move. More Crypto Online says SOL's next phase has started based on Elliott Wave analysis, while TraderSZ is watching for a potential liquidity sweep below intraday lows before a possible move higher. The technical analysis comes as SOL trades near $71.88 after rebounding from the $57-$63 area, with resistance marked between $78 and $89 according to chart patterns shared by analysts.
More Crypto Online Identifies $78-$89 Resistance Zone Using Elliott Wave Analysis
Solana may be starting its next recovery phase after holding short-term support, according to crypto analyst More Crypto Online. In a post on X, the analyst said SOL's "next phase has started," pointing to a one-hour Elliott Wave chart that shows price recovering from the early June low and moving into a new upward structure.
The chart shows SOL trading near $71.88 after rebounding from the $57-$63 area. The current structure suggests Solana may be working through an impulsive move higher, with the next resistance zone marked between roughly $78 and $89.
Before that, SOL needs to hold nearby support around $69-$71. A deeper pullback could bring the $65-$67 area back into focus, where Fibonacci levels and previous support overlap. According to the analyst's chart, a break below support would weaken the bullish setup.
TraderSZ Watches for Liquidity Sweep Below $72 Support
Solana is approaching a key short-term support zone, and analyst TraderSZ is looking for a final shakeout before a potential rebound. In a post on X, TraderSZ said the ideal scenario would be a sweep of intraday lows followed by a rejection and recovery toward the session high, a pattern often associated with liquidity grabs before a directional move.
The chart shows SOL pulling back from resistance near $75-$76 after failing to break higher. Price is now testing support around $72.27, with a deeper support zone marked near $69.80-$70.00. According to the analyst, a brief move below current intraday lows could trigger liquidity before buyers step in.
TraderSZ's analysis indicates that a sustained break below the $70 area would weaken the bullish setup. The analyst notes that traders are watching whether the current pullback becomes a simple liquidity sweep or develops into a deeper correction.
FAQ
What price targets do analysts see for Solana?
More Crypto Online identifies a resistance zone between $78 and $89 based on Elliott Wave analysis of SOL's one-hour chart. The analyst states that SOL is trading near $71.88 after rebounding from the $57-$63 area and may be working through an impulsive move higher toward this resistance zone.
What support levels are analysts watching for Solana?
Analysts are monitoring multiple support levels for SOL. More Crypto Online points to nearby support around $69-$71, with a deeper support area at $65-$67 where Fibonacci levels and previous support overlap. TraderSZ is watching support around $72.27, with a deeper support zone marked near $69.80-$70.00.
