Solana is retracing into key support zones after a recent rally, with technical analysts monitoring whether the cryptocurrency can maintain critical levels that would preserve its recovery structure. MCO Global identifies a wave 4 support area near $80.38, $78.22, and $76.52, while Michaël van de Poppe highlights $75-$77 as the pivotal zone for range reclaim. The retracement follows SOL's attempt to recover from a breakdown below its previous trading range. If buyers defend these support levels, analysts point to potential upside targets at $100 and $120, though both scenarios require confirmed support holding. A break below the identified support zones would weaken the bullish structure and could bring deeper support areas around $71.17 to $64.68 into focus.
MCO Global Identifies Wave 4 Support Zone With Specific Price Levels
MCO Global's analysis shows SOL retracing into what the analyst calls a wave 4 micro support zone after its recent rally. In Elliott Wave terms, that pattern marks a pause inside a broader move rather than a full trend breakdown, as long as support continues to hold.
According to MCO Global, Solana is trying to form a local low in this support region. The key levels on the chart sit near $80.38, $78.22, and $76.52. If buyers defend that area, the bullish structure remains intact and the market could start building toward the next upside leg.
On the upside, the chart highlights potential resistance targets near $85.81, $88.79, and $93.95. If SOL holds the wave 4 support zone and starts pushing higher, the recovery structure stays alive. If it breaks below the retracement area, the bullish count would weaken and the deeper support zone around $71.17 to $64.68 could come back into focus.
Van de Poppe Points to $75-$77 Support as Condition for $100-$120 Targets
Michaël van de Poppe's chart shows SOL recovering after a deviation below its earlier range, then pushing back above the lower range boundary. According to van de Poppe, the main level to watch is the $75-$77 area. He wants to see that zone hold as support before expecting further upside continuation.
If SOL holds above that support, the first major target sits near $100. That level lines up with the upper part of the prior range and remains an important resistance area. Above that, the chart points to a larger target zone around $120. That area would require stronger momentum, but it becomes more realistic if SOL keeps building higher lows.
A clean break back below $75-$77 would weaken the reclaim and could send price back into sideways movement. Holding $75-$77 would keep the path toward $100-$120 alive, while losing that zone would put the recovery structure back at risk.
FAQ
What is the significance of the wave 4 support zone for Solana?
According to MCO Global, the wave 4 support zone near $80.38, $78.22, and $76.52 represents a pause inside a broader move rather than a full trend breakdown in Elliott Wave terms. If buyers defend that area, the bullish structure remains intact and the market could start building toward the next upside leg with resistance targets near $85.81, $88.79, and $93.95.
Why does Michaël van de Poppe consider $75-$77 a critical support level?
Van de Poppe identifies $75-$77 as the key support zone because SOL pushed back above the lower boundary of its previous range after a deviation below. He wants to see that zone hold as support before expecting further upside continuation toward $100 and $120. A clean break below $75-$77 would weaken the range reclaim and could send price back into sideways movement.
