Key Insights:
- Solana price defends key support near $186-$189, reinforcing accumulation interest.
- Analysts eye $220 target as price consolidates above higher-low formation.
- Strength above $184-$200 accumulation range signals ongoing bullish continuation toward $218-$220.
Solana price formed a support at key level, indicating high market resilience. Several analysts speculate the current range is a new higher low. Meanwhile, with some increasing confluence near $189-$186, projections are now pointing to a potential bullish run up towards $220.
Solana Price Structure Matches Bullish Recovery Setup
Solana continues to showed a classic bullish market structure of higher highs and higher lows. CryptosBatman highlighted this on his one hour chart and he pointed out the existence of a fair value gap (FVG) between $188 and $190. He explained that this FVG could become the next accumulation zone where buyers return to the market.
He stressed that keeping up structure integrity is key to sustaining momentum. A retracement into the FVG zone could form a higher low, driving the uptrend base stronger. The pattern reflected textbook price trend in consolidation phases prior to continuation.
Once the liquidity calms down in this zone, Solana price may reclaim short-term highs above $195 and near the $200 resistance mark. For CryptosBatman, $189 is still the crucial area where bulls need to defend to confirm structure continuity.
Analyst Eyes $180s Range Before Upside Acceleration.
Sheldon The Sniper provided a wider view of Solana’s potential path to $220. His eight-hour chart showed a retracement phase within the Fibonacci range between 0.382 ($186.54) and 0.618 ($181.73). He expects that price will dip into this zone before buyers take control back. This move would create another higher low, a signal often preceding great bullish continuation.
According to Sheldon, it’s important to maintain composure during retracement. He reminded traders that higher timeframe structures take time to develop. His projection is a temporary pullback back into the mid $180s, with an impulsive breakout to $220.
Fragile Base Amid Bullish Prospects
More Crypto Online offered a cautious, but optimistic view. He identified micro support at around $186.38 and says holding this level could secure short-term bullish momentum. His Elliott Wave count showed a possible 1-2 pattern forming within a forming wave C structure. If validated, the next impulsive wave is the next bull trap that can take Solana price to $208-$212 in the short-term.
However, he also recognized a weak base under this rally. The recent upward moves, while promising, are still based on limited momentum. A drop below $186 could lead to a deeper drop and call the wave structure into question. The analyst insisted that this level can and should still be a line of defense for bullish traders. Sustained consolidation above support would improve the probability of rally towards $220.
Strength at Macro Support
Donald Dean added a volume-based analysis reinforcing the wider bullish picture. His chart showed multiple “volume shelves,” important areas where traders have previously accumulated or distributed positions. He pointed out that the top altcoin recently tested a lower trendline and is now aiming for the next volume shelf at $200. Once that level is breached, the next target lies at $218, which would be in line with the 0.618 Fibonacci extension.
As long as Solana remains above the ascending channel, momentum could take price higher towards $218. Complementing this view, Crypto Caesar displayed a long-term weekly structure with a strong ascending trendline. He identifies $184.66 as the current support level, calling it Solana’s “pivot for continuation.” Caesar’s analysis suggested that holding above this point has preserved the long-term bullish narrative. Both analysts consider the $184-$200 range to be the center of ongoing accumulation.
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