Solana Price Prediction: $98 Wall Keeps SOL Trapped

Solana is testing a key setup after sellers rejected $SOL near the $98 resistance zone. However, the price still holds important short term support, keeping the breakout scenario alive for now.

Solana Price Faces $98 Breakout Test After Channel Rejection

Solana price is trading near the upper part of its daily range after a failed attempt to break the $98 resistance level, according to the $SOL chart shared by Ali Charts.

The chart shows $SOL moving inside a defined channel since February. The lower boundary sits near $78.17, while the upper boundary stands near $97.79. The mid-range area is around $88.02, with another key level near $92.89

Solana Daily Channel Chart. Source: Ali Charts on X

$SOL recently tested the channel ceiling near $98 but faced a quick rejection. After that move, the price pulled back toward the $91 area. This shows that sellers still control the upper range for now.

However, the chart also shows $SOL holding above the $88 pivot level. That keeps the broader channel structure intact. As long as Solana stays above this mid-range zone, another move toward $98 remains possible.

A daily close above $98 would mark a bullish breakout from the range. In that case, Ali Charts points to $107 as the next target, followed by a secondary target near $117.

If $SOL fails again near $98, the price could move back toward the $88 pivot. A deeper pullback could bring the $78 floor back into focus. That level has acted as the main support zone during the channel structure.

For now, the key level is clear. Solana needs a daily close above $98 to confirm a breakout. Without that close, $SOL remains inside the range between $78 and $98.

Solana Price Holds 50% Retracement as $SOL Tests Short Term Support

Solana is trading near the $93 area after bouncing from the 50% retracement zone on the 4 hour $SOL/USD chart shared by MCO Global Español.

The chart shows $SOL pulling back after a move toward the $97 area. The price then dropped into the orange Fibonacci retracement box, where the 38.20% level sits near $91.97 and the 50% level sits near $90.25.

Solana 4 Hour Fibonacci Retracement Chart. Source: MCO Global Español on X

$SOL reacted from that 50% zone and moved back above $93. This shows buyers defended the short term support area for now.

The key level is the recent intraday low near the lower part of the orange box. If $SOL stays above that low, the white Elliott Wave scenario remains active. Under that setup, $SOL could attempt another move toward the $97 resistance area first.

A stronger continuation would put the next upside zone near $110 to $112, where the chart marks a possible higher wave target. The wider upper target area sits near $121.96, based on the horizontal resistance line at the top.

However, if $SOL loses the intraday low and breaks below the $90.25 area, the short term bullish setup weakens. In that case, price could move toward the lower support levels near $77.95 and $75.40.