- Solana has held above $69 for more than 1.5 years while traders monitor $235 resistance as the breakout line.
- Fibonacci levels show $692 as the next extension target, but only if Solana clears $235 on the weekly chart.
- Analysts see strong support near $125 and $85, while $235 remains the deciding level for Solana’s next rally.
Solana (SOL) has traded above the golden pocket for more than 1.5 years, consolidating since spring 2024. Analysts suggest a breakout above the weekly supertrend could open a path toward the $692 Fibonacci extension.
Long Consolidation Above Golden Pocket
The weekly chart shows Solana holding firm above the golden pocket level near the 0.618 Fibonacci retracement at $69.68. This extended period of sideways trading began in 2024 and continues to define the coin’s market behavior.
Market observers note that Solana’s ability to hold above this range signals strong underlying demand. Despite tests of support, the structure has remained stable, suggesting that long-term accumulation may be in progress.
Resistance remains concentrated around $235, aligning with the 0.888 Fibonacci retracement. A decisive weekly close above this barrier would strengthen the case for bullish continuation and mark a shift out of prolonged consolidation.
Fibonacci Roadmap and Key Resistance
Fibonacci retracement and extension levels frame the potential roadmap for Solana’s next major move. The 0.786 retracement at $125.60 and the 0.888 at $235 serve as critical checkpoints for traders.
The weekly supertrend currently caps Solana’s momentum, acting as a dynamic resistance point. Breaking above this technical indicator is viewed as an important trigger for renewed upward momentum.
Analysts highlight the 1.272 Fibonacci extension at $692 as the first major target once resistance is cleared. Beyond that, the 1.414 extension at $746 and the 1.618 extension at $859 provide further reference points if momentum accelerates.
Volume trends will be closely monitored. Sustained increases during upward moves could validate the breakout scenario, confirming that consolidation has built the foundation for expansion.
Can Solana Break $235 Before Surging to $692?
The pivotal question is whether Solana can push past the $235 barrier before advancing toward the projected $692 Fibonacci target. Without this move, SOL could remain within the current sideways range.
Traders observe that Solana has maintained resilience above $69 for over a year and a half. This resilience underscores the strength of buyers who continue to support the coin at higher lows.
If Solana fails to clear the resistance zone, retracement levels remain in play. Downside targets include $125 at the 0.786 retracement and $85 at the 0.702 retracement. These zones could provide support for future recovery attempts.
For now, Solana’s next direction depends on the weekly close above resistance. A confirmed breakout could transform a long period of accumulation into an aggressive rally toward $692, offering traders a clearly defined technical roadmap.
