- Solana rebounds from $100 support and now approaches a key resistance level at $132.13.
- A break above $143.35 may unlock higher targets as the price retests previous breakout zones.
- A bullish pattern forms with $145 in sight while the price holds above the neckline structure.
Solana is trading in a key resistance zone following a bounce from historical support near $100. Recent activity shows a recovery attempt after a sharp retracement from the early 2024 highs. Price now tests structural levels that previously acted as breakout points.
Mid-Cycle Breakdown and Accumulation Rebound
Solana experienced a significant decline after failing to maintain support above the $209.84 level in early 2024. The retracement led to a move into lower accumulation zones established during late 2022 and early 2023. Traders responded near $100, where historical buying interest reemerged and initiated a recovery.
Source: Ansem
Market analyst Ansem above has provided a detailed analysis of Solana, identifying this corrective move as part of a larger deviation pattern forming on the higher time frames. He detailed that the bounce near $100 pushed Solana price into a key decision zone defined by past structural highs. Tracking market behavior, Ansem explained that the price must close above $132.13 to revive bullish momentum.
Ansem analyzed Solana’s earlier price action, identifying resistance at $143.35, $172.13, and the cycle high of $209.84. Observing market trends, he flagged hesitation around $132.13, where the price consolidated below former breakout levels. His analysis pointed out that reclaiming $143.35 could unlock upside toward higher resistance.
Inverse Head and Shoulders Points to $145
Analyst Titan of Crypto has provided additional insights based on a 4-hour Solana time frame, using a pattern-based approach. He identified an Inverse Head and Shoulders structure that formed between March 29 and April 12. The setup includes a deep head, two symmetrical shoulders, and a rising neckline.
Titan of Crypto mapped the left shoulder near $114.00, the head around $106.00, and the right shoulder at $112.00. He reported that the breakout above the neckline occurred on April 11 with a strong bullish candle. According to his analysis, the breakout originated near $123.00, projecting a move toward $145.00.
Source: Titan of Crypto
Tracking market behavior, Titan of Crypto explained that the candles displayed momentum and clean structural symmetry post-breakout. He designed the analysis without indicators like RSI or MACD, focusing solely on price action. The setup remains valid while price trades above the neckline and continues toward the estimated target.
Observing market trends, Titan of Crypto stated that a retest of the neckline may occur, although the price has remained firm. He added that volume was not shown but inferred active participation from candle patterns. His analysis concluded that the breakout pattern remains technically intact with an active upside trajectory.
