- Solana is in the support zone of $96.60 after an extended downward trend on a monthly basis since reaching the peak of $295.83.
- Price action is bound between $96.60 and $106.04 as an indicator of decreasing directional momentum.
- Any break up above $106.04 can lead to $112 and a drop below $96.60 can lead to 90-92.
The monthly SOL/USDT chart shows that Solana is still trading on the down trend after adding to its multi-month fall. SOL Price action indicates that it is floating around a previously tested demand zone, and volatility is high. It is important to note that the latest market data have the current spot price at $103.02, which is a 2.3 percent fall per day.
Nevertheless, intraday weakness is also observed in the chart snapshot when SOL is trading around the range of $98.08. This distortion is the outline of the macro-system, as momentum is still in the hands of sellers. Due to this, traders are still concerned whether the stability in price behaviour can be achieved within the $90 to $100 range.
Long-Term Chart Structure Highlights Extended Correction
The monthly chart indicates that Solana rose to close to $295.83 and subsequently went into an extended decline. The candles since the time of that peak show low highs and successive downward closes. It is worth noting that the price has reversed down to the level of $90-100, and this level has become the structural support.
This area coincides with repetitive wicks and squeezed bodies of candles. Moreover, declining volume during the recent drop suggests reduced aggressive selling. However, price has not confirmed a higher low yet. This sets the context for the next section, which focuses on near-term trading levels.
Key Levels Shape Short-Term Direction
Solana was supported at $96.60 which corresponds to the bottom of the chart.
In the meantime, the resistance is at the upper limit of about $106.04 as it used to be previously rejected.
This compression is depicted in the 24-hour range; the price is moving between $95.95 and $106.69. It is also important to note that SOL is at 0.001326 BTC which is relatively stable against Bitcoin. This narrow structure explains recent consolidation behavior. Therefore, attention shifts toward intraday outcome scenarios.
Defined Range Holds as SOL Awaits Volume-Driven Break
In a bullish scenario, sustained trading above $106.04 could open a move toward $112. Such action would require consecutive hourly closes above resistance. However, a bearish scenario emerges if price falls below $96.60. That breakdown could expose the $90–$92 liquidity range shown on the chart. Notably, both scenarios depend on volume expansion. Until then, SOL remains range-bound between defined technical levels.
