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Solana is trading at $105.23, up 12.3% over the past week, after facing rejection at $110, a level analysts had flagged in advance as the token’s first major resistance zone.
According to experts, Solana’s pullback from $110 began within the past day, later than a similar retracement already underway on <a href="https://xpertsstudio.com/what-happens-to-bitcoin-ethereum-and-xrp-if-the-clarity-act-passes/” title=”What Happens to Bitcoin, Ethereum and XRP if the CLARITY Act Passes?”>Bitcoin’s chart. The move is being treated as an internal correction within a broader uptrend, not a reversal, provided a set of specific price floors continue to hold.
Two support zones are in focus. The first, described as weak and relevant mainly to intraday moves, sits between $102.57 and $106.76. A more important zone lies between $90.46 and $94.83, calculated using Fibonacci retracement measured from Solana’s low on August 16 through this week’s high.
The analysts said that if the weaker upper support breaks, pressure builds toward the lower zone, and price would need to stabilize near the August 26 swing low to keep the bullish structure intact. A break below $90.46 would remove their bullish case entirely, opening the door to broader short-term downside beyond just an intraday dip.
On the upside, the group’s Fibonacci resistance projection places Solana’s next target near $133, contingent on the current support structure holding through the pullback.
Upside momentum has already begun slowing, with price action turning choppier below $110, and said a deeper pullback into the weekend looked likely even as the immediate micro support level had not yet broken at the time of recording.
Solana’s next move hinges on a narrow band between $102 and $95. Holding above it keeps the path toward $133 open. Losing it shifts the focus toward the $90 zone, and a break below that would mark a more meaningful shift in trend for the token.
Source: <a href="https://cryptonews.net/news/analytics/33370094/” target=”_blank” rel=”nofollow noopener”>cryptonews.net