Solana Unfazed by Short-Term Correction... "Break Above $98 Opens Up to $118"

▲ Solana (SOL)/AI Generated Image

An analysis suggests that Solana (SOL) is maintaining its upward structure by holding key support levels despite short-term corrective pressure. Although profit-taking emerged after a recent strong breakout, there is a prospect that further upward momentum could continue if major resistance levels are retaken.

According to NewsBTC on May 14 (local time), Solana broke through key trendline resistance and then rose by approximately 10%, reaching its first upward target zone. Market analyst Bitcoin Meraklısı analyzed that selling pressure entered after the price reached this zone, leading to short-term profit-taking.

This decline is being interpreted not as a broad bearish reversal, but as a short-term corrective trend. A temporary pullback after a strong rally is a natural progression, and even if Solana falls to around $92, it can technically remain within a healthy structure. However, to resume its upward trend, it must break above the $98 resistance zone again and establish itself above it.

CryptoXLARG analyzed that Solana successfully broke out of its long-term downtrend channel, signaling a structural shift. Currently, Solana is consolidating in the $92 to $95 range, which is presented as a base-forming process for a trend reversal after several months of downward pressure.

For the uptrend to gain strength, it needs to consistently reclaim the $95 level and confirm it as a new support. If this zone solidifies as support, technical targets could open up to $102.70, $106.50, and $118.26. In a market environment where high momentum is maintained, analysis also suggests that macro targets could extend to $143 and $163.

On the defensive side, $92 was mentioned as an immediate support level to maintain short-term optimism. If volatility expands, $89 and $78 were presented as the next support zones, and an analysis suggests that if $78 is not held, the current bullish structure could be invalidated, leading to a deeper correction towards the $70 mark. Solana's current breakout trend is expected to have its sustainability determined by whether it holds the $95 pivot.

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