Solana price is attracting attention amid expectations of how the $105 level will influence the next move. The cryptocurrency has seen a solid bounce off its June bottom near $65 and faces a crucial resistance zone that previously played a significant part in its structure.
Currently, Solana (SOL) is changing hands around $104.82, having gained 2.42% in 24 hours. Daily volume of SOL transactions is estimated at $5.25 billion, and the market cap is valued at $61.37 billion, taking a share of 2.27% of the whole crypto market.
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Solana Price Could Extend Gains After $105 Breakout
According to a recent post by crypto analyst Nehal, reclaiming $105 could boost the current bullish setup and help SOL eye higher targets. Now the token is challenging that level from below, having bounced strongly off the June bottom near $65.
A break above $105 could improve the near-term prospects of Solana. On the basis of the technical setup, the reclaiming of this level could lead to further gains to $120 and even $140 if we are speaking about a larger impulse move. Failure to break the resistance level could cause the price to fall to lower support levels.
Solana Technical Setup Points Toward Higher Targets
There is one more technical analysis showing that Solana could have completed a Wave (4) correction in place of an ascending wave. On the basis of the analysis, the main support zone is set at $94.50–$95.50, and resistance at $109.50–$110.50.
On the basis of the setup, the first upside target is set at $110, followed by $112.50 if SOL confirms a breakout. A stronger continuation could then push the price toward $116.50, described as the potential Wave (5) target zone.
The $94.50–$95.50 region remains important for the bullish structure. A sustained move below this range would weaken the current setup and could increase selling pressure.
Solana’s recovery also comes after a significant decline from previous highs, making the current price zone important for assessing whether the broader recovery can continue. Rising trading volume alongside the latest price increase suggests that market participation remains elevated, although confirmation above resistance is still needed.
What Comes Next for Solana Price?
The next major test for SOL is whether buyers can establish the $105 level as support rather than resistance. A confirmed move above $109.50–$110.50 would strengthen the bullish case and place $112.50 and $116.50 in focus.
For now, the $94.50–$95.50 support zone remains the key downside reference. The reaction around $105 could therefore determine whether Solana extends its recovery or enters another pullback.
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This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
