The Solana price recently witnessed a sharp pullback after rallying close to the $100 milestone. SOL dropped from recent highs around $98.40 to nearly $89.92 within a short span, reflecting rising profit-taking and growing market uncertainty near a crucial resistance zone. Despite the correction, the token continues to hold above important support levels, suggesting that bulls are still attempting to maintain control of the broader recovery trend.
As Solana now trades near a decisive technical range, traders are closely watching whether the price can regain momentum and reclaim the $100 level.
The daily chart shows SOL rebounding sharply after repeatedly defending the crucial support zone around $76 to $78. The recent breakout above the mid-range resistance near $87 helped the token recover toward the $91 range, indicating improving bullish momentum in the short term. At the same time, SOL is now testing the Gaussian channel resistance zone, which has historically acted as an important trend barrier. Meanwhile, the RSI continues trading above the neutral zone, suggesting buyers still maintain moderate control despite the latest pullback from local highs.
The chart also highlights that Solana has been forming higher lows since early April, signaling gradual strength returning to the market. However, SOL remains below the broader resistance cluster between $97 and $100. This range could continue acting as a strong supply zone unless buying volume increases significantly.
Key Levels to Watch
The Solana price currently appears to be at a decisive stage as the price attempts to recover from months of bearish pressure. If buying momentum continues strengthening and SOL successfully breaks above the current resistance cluster, a move toward $100 could become increasingly likely in the coming sessions. However, failure to sustain the recovery may keep Solana trapped within a broader consolidation range before the next major breakout attempt.
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