Solana has finally broken through the $88 ceiling that held back repeated rallies for months, putting SOL near $99 and shifting attention to whether bulls can turn that old resistance into a
Solana has finally broken through the $88 ceiling that held back repeated rallies for months, putting SOL near $99 and shifting attention to whether bulls can turn that old resistance into a launchpad. A successful $88-$90 retest could open the door to $120-$124 in the near term, while a separate long-term Elliott Wave setup maps a much broader path toward higher Fibonacci resistance and, eventually, significantly larger bull-market targets.
Solana Tests $98 Resistance as Long-Term Bullish Structure Stays IntactSolana is pressing into a key resistance area near $98 after rebounding sharply from its midyear lows, while a long-term Elliott Wave chart from More Crypto Online keeps both a direct bullish path and a deeper corrective scenario in play. The chart suggests the near-term reaction around current resistance could determine whether SOL extends toward higher Fibonacci levels or revisits lower support before resuming its broader advance.
Solana SOL $98 Resistance and Long-Term Wave Structure. Source: More Crypto Online on X.
The daily SOL/USD chart places Solana near $97.90, directly beneath a horizontal resistance zone that has repeatedly capped price action. A sustained break above this area would strengthen the case that the advance from the roughly $60 region is developing into a larger impulsive move rather than another temporary recovery inside the broader correction.
Above current prices, the chart identifies several Fibonacci levels that could become important if buyers secure a breakout. The first major level sits near $110.16, corresponding to the 38.2% retracement, followed by approximately $132.93 at the 50% level and $160.42 at the 61.8% retracement. The 78.6% level is positioned near $209.63. These zones provide a sequence of potential resistance areas rather than guaranteed price targets.
The orange Elliott Wave count presents the more directly bullish interpretation. Under that scenario, the recent rebound could represent the early stages of a larger five-wave advance, with substantially higher levels possible over the longer term. More Crypto Online said its original chart carried a first bull-market target zone of $430 to $780, although that broader target should be treated as the analyst's long-term scenario rather than a level confirmed by the current price action.
The chart also leaves room for a deeper correction. Major downside support is marked around $62.43, while another Fibonacci support area appears near $48.79 to $43.22. A failure to hold the recent recovery structure, particularly after rejection near $98, would increase the risk that SOL revisits those lower zones before a larger bullish sequence develops.
For now, $98 is the immediate confirmation level. A decisive daily breakout and sustained trading above that barrier would shift attention toward $110 and then $133, while rejection would keep the deeper corrective path alive. Importantly, both wave interpretations shown on the chart ultimately point to higher long-term prices, but they differ significantly on how much downside Solana could experience before that move unfolds.
Solana Breakout Above $88 Shifts Focus to $120-$124The longer-term SOL/USD chart reinforces the bullish breakout scenario but also shows why the path higher may not be straightforward.
The first major Fibonacci resistance shown above current prices sits near $110.16, representing the 38.2% retracement. That level arrives before SatoshiOwl’s $120-$124 objective and could therefore provide the first meaningful test if Solana extends its breakout
Above $110, the chart marks further resistance near $132.93 at the 50% retracement, $160.42 at the 61.8% level and $209.63 at the 78.6% retracement. These levels provide a sequence of potential hurdles rather than guaranteed targets.
The two charts therefore complement each other. The shorter-term setup places $120-$124 as the next major upside objective following a successful $88-$90 retest, while the longer-term chart shows $110 as an intermediate resistance area and roughly $133 as the next significant Fibonacci level beyond that target.
More Crypto Online’s Elliott Wave count also keeps a considerably larger bullish scenario in play. The analyst said the chart’s first bull-market target zone remains between $430 and $780, with the directly bullish orange wave count maintained since June. That range is a long-term scenario, however, and would require SOL to clear several major resistance areas first.
The same chart also acknowledges the possibility of a deeper correction. Support is marked near $62.43, with another downside region around $48.79 to $43.22. A breakdown that eventually pushes SOL back toward those levels would imply a much longer corrective phase before the broader bullish structure could resume.
For now, the market does not need to solve the long-term wave count. The immediate technical battle is much closer: holding $88-$90 would confirm that Solana’s former resistance has become support, while a move through $110 could strengthen the case for $120-$124 and eventually $133. A failure to hold $88, by contrast, would force traders to reassess the breakout before looking toward the larger targets.
