- Bulls might start a new wave toward $220 as Solana approaches a crucial support zone between $130 and $121.
- CryptoBullet sees SOL’s ABC correction completing soon, with $130 acting as a potential bounce zone in a bullish setup.
- Fibonacci levels and volume behavior suggest SOL could reclaim strength if the $121 support band continues to hold.
Solana (SOL) is testing a pivotal support range after weeks of correction from its 2025 highs. Traders are watching closely as SOL approaches a potential reversal zone between $130.00 and $121.00.
ABC Structure Hints at Upcoming Bullish Reversal
Solana has moved between $86.50 and $320.00 over recent months, forming a wide range on the daily chart. The asset is now trading near $143.68 following a 1.77% dip, staying well within its broader corrective pattern. An identifiable ABC wave structure has developed, with point A forming between $165.00 and $170.00.
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A bullish analyst believes Solana is preparing to reverse from this correction phase toward a new bullish wave. According to CryptoBullet, the current ABC structure positions point B near $130.00, aligning precisely with the 0.5 Fibonacci retracement zone. He notes that this area could act as a launchpad for buyers if they defend the level with strong momentum.
The analyst observes that deeper support remains at $121.00, tied to the 0.618 Fibonacci retracement, while $115.00 aligns with the 0.786 level. These bands could provide strong buyer interest if price action dips further in the coming sessions. CryptoBullet explains that if bulls hold the $130.00–$121.00 range, Solana may rise toward $220.00–$250.00, reclaiming key resistance from earlier in the year.
Fibonacci Extensions Point Toward $220 Breakout
More intriguing is that $220.00 matches the 0.618 Fibonacci extension drawn from Solana’s previous high. CryptoBullet states this confluence reinforces the technical strength behind the projected breakout zone. While SOL continues to consolidate, he believes the structure shows healthy correction rather than any deeper breakdown risk.
CryptoBullet also emphasizes how trading volume has stabilized during the descent, indicating that sellers are losing strength. He sees this consolidation as part of a normal market cycle, especially after Solana’s strong rally earlier in 2025. A bounce from the current zone could validate the bullish ABC structure now in place.
Solana is maintaining above all of the major retracement levels, which shows that this correction cycle is about to step into its last leg. Technically, the cryptocurrency still has not bounced back as long as the price action is maintaining a steady hold at $130.00. As traders are watching Fibonacci levels and structural support, Solana’s response at this time may dictate its July shift in momentum.
