Solana is holding near $103 after reclaiming an important former resistance level around $98, keeping the near-term recovery intact despite signs that the broader correction may not be finished. Technical setups point to $110 as the next major test, while a sustained breakout could eventually shift attention toward the $146-$152 resistance zone.
$SOL Holds Key Support as Wave 4 Consolidation Continues
Solana’s short-term structure remains constructive above $98, but the rebound is still developing inside what More Crypto Online describes as a corrective Elliott Wave pattern rather than a confirmed new impulsive advance.
Solana $SOL Wave 4 Support. Source: More Crypto Online on X
$SOL was trading around $103 after recovering from the latest pullback, with the chart placing immediate Fibonacci support at $102.50, $101.51, $100.53 and $99.14. The cluster creates a relatively tight support area beneath the current price and gives traders a clear level for judging whether the bounce can continue.
More Crypto Online said Solana remains in a corrective wave 4 consolidation after its rejection near $110. The analyst sees the recent price action as a series of overlapping three-wave moves, a structure commonly associated with corrections rather than a clean directional trend.
Under that scenario, $SOL could still move above the Sept. 3 high as part of a B-wave rebound before a C-wave decline completes the larger correction. That makes $110 an important resistance level rather than confirmation by itself.
The deeper support zone sits between $90.46 and $94.83. Holding that area would preserve the possibility of another wave 5 advance once the correction runs its course. A decisive break below the zone would weaken the bullish interpretation and suggest the pullback is extending further than anticipated.
Solana Reclaims $98 as Traders Look for Another Trend Leg
A broader price structure also highlights the importance of $SOL’s move back above the upper-$90 area. The recovery has pushed Solana above a level that repeatedly influenced price earlier in the year, strengthening the case that buyers are attempting to turn former resistance into support.
Solana $SOL 98 Dollar Breakout. Source: TraderSZ on X
TraderSZ said he added to $SOL long positions and expects another trend leg higher, while identifying a clean break below $90 as the point that would invalidate the setup.
The chart marks roughly $98.39, labeled as the previous quarter’s high, as the immediate level to defend. $SOL’s ability to remain above that threshold would support the breakout structure and keep the recent advance from the $70 area intact.
The next obstacle is the recent swing area around $110. Clearing that level with sustained buying would strengthen the bullish case and leave relatively little marked resistance until a much larger supply zone around $146-$152.
That higher zone represents a more ambitious target rather than an immediate forecast. $SOL would first need to hold above $98, establish strength beyond $110 and avoid falling back below $90.
For now, the technical picture leaves Solana at a decision point: support between roughly $98 and $100 favors another attempt higher, while a loss of $90 would materially weaken the recovery and put the bullish continuation scenario under pressure.