Solana is currently trading near $106.49, reflecting a slight decrease of 0.19% in the last 24 hours. Throughout the latest session, SOL fluctuated between $104.64 and $110.17. Market capital
Solana is currently trading near $106.49, reflecting a slight decrease of 0.19% in the last 24 hours. Throughout the latest session, SOL fluctuated between $104.64 and $110.17. Market capitalization has reached approximately $62.17 billion, supported by a trading volume close to $6.85 billion during the same period.
A recent rally positioned Solana above previous resistance at $97. After breaking this level, the price revisited the zone, confirming it as new support before rebounding above $100. This move has provided buyers with a firmer foundation for potential further gains.
Analyst Quinten Francois identified $120 as the next major target, noting the absence of significant structural resistance between current levels and the $119-$120 range. Francois stated that holding $97 on future pullbacks remains crucial for maintaining the bullish setup, while a dip below this threshold could weaken momentum.
Quinten Francois has observed that, “As long as $97 remains intact, the breakout structure continues to favor higher prices. A move back below this level would weaken the immediate bullish setup.”
Trading activity and chart analysis suggest that, for now, buyers are firmly in control, focusing on further upside toward $120.
Solana’s technical momentum has strengthened alongside a breakout in its relative strength index (RSI). After exiting a long-standing consolidation at $79-$80, both price and RSI pushed above key resistance, contributing to a nearly 40% rally from that breakout region. According to trader Symba, a sustained move above $105 could trigger another expansion of roughly 40%, bringing price targets into the $145-$150 area. Although high RSI readings could prompt short-term corrections, technical structure remains supportive as long as buyers defend current support zones.
Resistance LevelSupport LevelPotential Target$108-$110 (Sell wall)$97 (Key support)$120, $140, $150The Solana Rainbow Chart, a long-term valuation tool, currently places SOL at the top of its “Fair Value” band around $90.75. The next valuation band, “Getting Spicy,” is located near $139.29. If momentum persists, analysts will watch for potential advances further into the $139-$140 area.
Higher bands on the chart highlight potential longer-term targets. These include $213.78 (“Frothy”), $328.11 (“FOMO”), and $503.59 (“Take Profits”). At present, the $139 region remains the nearest significant valuation milestone should the recovery continue.
Mini dictionary: Solana Rainbow Chart, a visual model that assigns different valuation bands to SOL based on historical price trends, often used by traders to estimate zones of overvaluation or undervaluation.
Solana’s network continues to display strong fundamental support for price action. Daily active addresses have surpassed 5 million, placing the network ahead of many major blockchains and reflecting continued interest from users and developers.
While network activity does not inherently guarantee price increases, consistent usage alongside constructive technicals bolsters the case for sustained recovery in SOL’s price trajectory.
Despite bullish momentum, order-book analysis reveals a growing sell wall in the $108-$110 range. This supply barrier is causing resistance and has so far limited immediate follow-through after the price reached its recent daily high of $110.17. Below current levels, liquidity and buy walls have formed around $100-$102 and lower, suggesting a defined battleground between buyers and sellers. If sellers succeed in capping the rally here, a retest of $100 is possible. Conversely, absorbing this sell wall could clear the path toward higher targets.
With $97 now acting as solid support and SOL trading above $105, analysts are eyeing $120 as the immediate upside objective. Beyond $120, both the Rainbow Chart and momentum-based projections point toward the $139-$150 range as significant milestones if current trends persist. A renewed break above $150 may then bring the $180-$200 area into play.
If SOL repeats another 40% momentum rally from its current base, price could reach the $145-$150 region, expanding medium-term targets beyond the initial $120 goal.
Maintaining support between $97 and $105 will be critical for buyers to preserve the breakout structure and pursue higher highs.
Solana is transitioning from reclaiming the $100 level to building a base above it, with near-term fluctuations centered between $97 and $105. If buyers manage to overcome added supply around $108-$110 and push price above $120, the path toward the $139-$150 zone grows clearer. Continued network growth and robust trading activity are strengthening the fundamental backdrop, but any loss of the $97 support would likely signal a retreat in bullish momentum and could expose the mid-$90s or lower levels.
The post Solana trades at $106, targets $120 and $140 as analysts watch breakout zones appeared first on COINTURK NEWS.
