Solana’s SOL token continues to trade within a well-defined channel after another failed attempt to break above the $98 resistance zone. Price climbed toward the upper boundary, but sellers stepped in before a daily close could be secured above it, keeping the broader range structure intact. Despite the rejection, buyers continue to defend key support levels, leaving the market in a wait-and-see phase.

Range Structure Defines Near-Term Direction

SOL has been locked inside a trading channel since February, with the upper boundary near $97.79 creating a strong resistance ceiling and the lower boundary near $78.17 providing consistent support. Analyst Ali Charts identified $88.02 as the mid-range pivot point that currently dictates short-term directional bias.

Despite the latest rejection at resistance, SOL continues to hold above the $88 pivot zone. Ali Charts highlights $107 as the next upside target if breakout conditions are met, suggesting that a confirmed daily close above $98 would signal a meaningful shift in momentum and potentially open the path toward triple-digit territory.

Should SOL fail again near resistance, downside pressure could return quickly. A move below $88 would weaken the current structure and shift attention toward the $78 region, which has repeatedly acted as a strong foundation during past corrections within this cycle.

Short-Term Price Action Shows Buyers Defending $90 Support

On the four-hour timeframe, SOL recently pulled back from the $97 area into a Fibonacci retracement zone between $91.97 and $90.25. The 38.2% retracement level near $91.97 offered early support during the dip, while the 50% level near $90.25 attracted stronger buyer activity.

After reaching the $90.25 support area, SOL bounced back above $93, confirming that demand remains present despite persistent resistance pressure. This recovery supports a broader Elliott Wave structure that remains valid as long as the recent swing lows hold.

If momentum continues to build, price could retest the $97 resistance zone. A stronger push beyond that area may open targets toward the $110 to $112 range, with extended projections near $121.96 based on Fibonacci extensions. However, a break below $90.25 would weaken the short-term bullish setup and could trigger deeper downside toward the $77.95 and $75.40 support zones.

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