Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Solana traded around $104 on Saturday, Aug. 29, after gaining nearly 11% over the past seven days, putting SOL back above the psychologically important $100 level. Two long-term charts now point to a potentially important structural shift, although the more aggressive $1,000 target remains a speculative scenario that would require substantial confirmation.
Solana Repeats a Long-Term “Bear Trap” Structure
A two-week Solana chart shared by Maelius highlights similarities between the current market structure and SOL’s 2022-2023 bottoming process. In both cases, price briefly moved below a major horizontal level before recovering, while the relative strength index approached or crossed a long-term descending trend line.
Solana SOL Long-Term Bear Trap Pattern. on X
The earlier setup is important because SOL fell beneath support near the $20 region during the 2022 downturn before reclaiming it in 2023. That recovery preceded a much larger advance, eventually carrying Solana back above $200.
The current structure resembles that sequence on a larger price scale. SOL recently traded below the horizontal area around $80 before recovering sharply, and the chart labels the downside move as another potential “trap.” Price has since pushed back above $100, strengthening the case that the breakdown may have failed.
Momentum offers another point of comparison. The chart’s RSI panel shows the indicator challenging a multiyear descending resistance line, similar to the momentum shift marked near the 2023 bottom. A sustained RSI breakout alongside continued strength above the reclaimed price level would provide stronger confirmation that the pattern is developing as illustrated.
The bullish interpretation weakens if SOL loses the reclaimed $80 region and begins establishing lower lows beneath it. For now, the practical takeaway is that $80 has shifted from a breakdown level into an important long-term support area, while the $130-$165 region represents a more immediate overhead zone visible on the chart.
Can Solana Really Reach $1,000?
A second weekly chart from CryptoCurb presents a considerably more aggressive Solana price prediction, arguing that SOL could eventually exceed $1,000. The setup compares the current decline with the falling trend line that preceded Solana’s major 2023-2025 advance.
Solana SOL $1,000 Breakout Scenario. on X
The chart shows SOL approaching and then moving through a descending resistance line after spending much of 2026 in a corrective structure. A similar descending trend line appeared around the 2023 cycle low, before SOL rallied from roughly $20 toward its 2025 peak above $250.
That historical resemblance supports a bullish scenario, but it does not establish $1,000 as a confirmed target. From SOL’s current price near $104, reaching four figures would require an increase of roughly 860%, making several intermediate resistance levels far more relevant first.
The chart suggests that holding above the broken downtrend would be the first confirmation. SOL would then need to reclaim major prior-cycle resistance, including the $150-$200 region and ultimately its record-high zone near $293. CoinGecko currently lists Solana’s all-time high at $293.31, set in January 2025.
A return below the breakout area and a loss of the broader $80 support region would undermine the comparison with the 2023 setup. Conversely, sustained weekly closes above the downtrend, followed by higher highs and higher lows, would give the long-term bullish thesis more technical credibility.
For now, the two charts point to the same near-term question despite very different upside projections: whether Solana can turn its recovery above $100 into a durable breakout. Holding the $80-$100 region would keep that possibility alive, while a move through the next major resistance zones would be needed before considerably higher targets become technically relevant.
Source: coinpaper.com