Has SOL Found a Base Towards $120 Target?

Solana extends a rebound after an intraday dip, with traders watching whether the recovery can hold and develop into a sustained upside move.

The Solana (SOL) market is now pressing back toward its intraday highs, trading at $83.69, after shaking out weak hands earlier in the session, signaling that buyers may be quietly regaining control.

SOL is currently up 1.5% over the past 24 hours, with the daily range stretching from $79.82 to $83.64, a roughly $3.82 swing that reflects healthy intraday volatility. Price initially dipped toward the lower boundary of the range before staging a steady recovery, climbing to the upper end as momentum improved through the session.

Trading activity remains robust, with approximately $3.25 billion in 24-hour volume and a market cap near $47.57 billion. Short-term metrics show constructive movement, including gains over the past hour, day, and week, though broader timeframes remain under pressure with notable declines over the past month and year. The key question now is whether SOL can hold near the top of its daily range and convert this rebound into sustained upside continuation.

Solana Price Analysis

Despite the recovery in the short term, Solana remains in a broader downtrend, with price trading well below both the 50-day EMA (around $106.66) and the 100-day EMA (around $124.18). These moving averages have continued to slope downward, reinforcing sustained bearish structure and acting as strong dynamic resistance zones on any recovery attempt. 

Immediate horizontal resistance now sits near the recent breakdown area around $90–$100, while a larger recovery would need to reclaim the 50-day EMA to signal a more meaningful trend shift. Until SOL can break back above these levels, rallies may continue to face selling pressure.

On the downside, a breakdown below $78 could open the door toward deeper psychological support near $75, while holding above it may allow for continued consolidation. The current structure suggests a base-building phase, but confirmation would require a push above near-term resistance.

Momentum indicators show lingering bearish pressure, though downside strength may be cooling. The True Strength Index remains below the zero line, with the main line near -33 and the signal line around -35, indicating that bearish momentum still dominates.

However, the lines are beginning to flatten and slightly converge, hinting that selling pressure is easing. A further surge of the TSI above its signal line, followed by a move back toward the zero axis, would be an early indication that momentum is shifting in favor of buyers.

Could Solana Target $120?

On the commentary side, analyst curb.sol shares a short-term outlook for Solana, suggesting the asset is currently establishing a trading range between roughly $75 and $90. 

According to his view, this zone represents a consolidation phase where price builds structure before the next directional move. He notes that a decisive breakout above the $90 level would be significant, as it could trigger upside momentum and open the path toward a projected target near $120.