Solana (SOL) Hits $103 Support as Traders Watch for a Big Move 

• Solana has reached $103 which is a strong level that may cause a major shift in its price based on past trends.  
• If Solana holds above $103 it may rise toward $260 then $314 which are key points where many traders expect it to face pressure.  
• If it drops under $103 then the market could lose hope and Solana may fall more which may cancel the chance for a price jump.

Solana (SOL) has reached a critical inflection point, dipping into a strong support zone near $103.84. According to analysis by Rose Premium Signals, this level aligns with the 0.786 Fibonacci retracement, a key indicator often associated with price reversals. With SOL currently hovering near this zone, traders are closely monitoring whether the token will accumulate enough momentum for a bullish reversal. A successful bounce from this level could pave the way for a significant upward trajectory, targeting multiple resistance levels in the coming weeks.

Technical Levels Indicate Potential for Reversal

SOL’s current price movement follows a structured downward correction within a larger ascending channel. The Fibonacci retracement tool shows that the 0.618 level has already been tested, and now the price is approaching the deeper 0.786 retracement. This makes the $103.84 zone a high-probability area for long positions. Historically, such deep retracements often lead to a sharp recovery, provided broader market conditions remain favorable.

The chart presented by Rose Premium Signals outlines a well-defined bounce structure, projecting an initial push toward $260.91, which marks the first major resistance on the way up. If SOL sustains momentum beyond this level, the next target stands at $314.58, a zone that coincides with the upper trendline of the ascending channel. The final projected level in this bullish scenario is $377.29, a price point that would mark a full recovery from the recent correction and signal a fresh upward phase for the asset.

Market Sentiment and the Path to Recovery

Traders are now watching how SOL behaves at this support. Should the price confirm accumulation within this region, it may attract renewed buying interest. The chart also suggests a potential consolidation phase before any breakout attempt. If sellers fail to push the price lower, buyers could step in aggressively, leading to a V-shaped recovery. However, failure to hold this level could open the door for further downside, breaking below the long-term ascending trendline.

The current weekly candlestick structure hints at volatility, but if the support level holds, the next bullish phase could come swiftly. Given that SOL has already experienced a -14.31% decline, a reversal from this point would align with previous price action patterns, where deep pullbacks often precede strong upward moves.

Final Outlook: Accumulation or Breakdown?

The next few days will be crucial for SOL’s price action. With $103.84 acting as a strong support zone, a bounce could validate the bullish roadmap laid out by Rose Premium Signals. The 0.786 Fibonacci level historically attracts buyers, making this area a prime candidate for an accumulation phase. If momentum builds up, $260.91, $314.58, and $377.29 will serve as key resistance levels on the way up.

On the flip side, a breakdown below this support could trigger further downside, invalidating the bullish structure and forcing traders to reassess their outlook. Given the recent market-wide corrections, a relief rally from this level would not be unexpected, especially with the broader crypto market awaiting the next major catalyst.