Solana nears $100 support zone! What do experts predict for the next move?

Solana is currently trading within a critical price range, and two leading technical analysts are sharing conflicting predictions regarding the cryptocurrency’s potential trajectory. While one expert highlights the area below $100 as a long-term buying opportunity, another warns that recent gains might be short lived and a deeper correction could be underway. In the short term, market direction is expected to hinge on whether key support levels hold firm and how price reacts to nearby resistance areas.

Long term accumulation opportunities below $100

According to analysis shared by CryptoCurb, Solana may have reached a zone considered significant for long term accumulation. On the weekly chart, levels below $100 are identified as buying opportunities, while areas above $1,000 could become key profit taking regions during any future rally.

The spotlight is clearly on the $100 band as a critical threshold. Analysis suggests this region has previously defined Solana’s price movements, acting as a decisive marker. Therefore, if the price manages to hold above this area, the accumulation scenario may gain momentum. Conversely, a decisive move below could delay any positive outlook for the near term.

This optimistic long term outlook draws heavily from historical market cycles. Should Solana break out upward from its current accumulation range, it could ignite a broader uptrend and bring markedly higher price levels into focus as the next cycle unfolds.

Elliott Wave analysis warns of possible further decline

On the other hand, a more cautious narrative emerges from More Crypto Online, who applies Elliott Wave analysis to the daily chart. Their assessment suggests that the recent upward reaction may only be a corrective move, with the main downward trend likely to reassert itself. More Crypto Online is known for technical analysis that centers on wave theory in the crypto markets.

Glossary: Elliott Wave is a technical approach that argues price movements unfold in psychological waves. Fibonacci resistance zone denotes a price region calculated by certain ratios where selling pressure typically increases.

The analysis notes that Solana has rebounded from its recent lows, pushing into the $73 to $89 range known as the Fibonacci resistance zone. This area is identified as a likely cap for the current corrective wave, hinting that sellers could again dominate in this band.

In a bearish scenario, analysts foresee the price targeting a support region between $45 and $60 for the next leg lower. The chart also suggests that a broader corrective structure could extend through to 2027. However, if Solana manages an upward breakout from the resistance zone, this downside risk could be diminished.

Within this framework, two technical areas stand out: on the downside, the crucial support near $100; on the upside, resistance ranging from $73 to $89. Solana’s next direction is expected to become clearer based on its reaction to these key technical zones.

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