🔁 Solana Correction Nearing Its End? $130 Retest Could Spark a Fresh Rally
Solana ($SOL ) has been under pressure, falling nearly 15% from its monthly highs after failing to hold the $168 resistance last Wednesday. For the past three days, it’s hovered around the $140 zone — a critical level. Since May, SOL has ranged between $145 and $180, struggling to reclaim the $160–$170 mid-zone following sharp June market shakeouts. Still, crypto analyst Lluciano suggests the correction may be nearing exhaustion. He believes while Solana might dip slightly further, its long-term breakout potential is “seriously huge.”
After breaking a prolonged downtrend in March, SOL briefly dipped into the $100–$120 demand zone before climbing into its current range. Now, a falling wedge pattern is forming, with resistance between $155 and $160. A breakout above that could send SOL surging toward the May high of $187 — with an extended rally possibly targeting $240. Similarly, trader Rose points out that SOL has been consolidating above its $145 support and 50-day moving average, hinting at an imminent push toward $165, $183, and even $220.
However, caution remains. Some expect SOL to lose its current range and revisit the $125–$135 April support zone before any bullish continuation. If that bounce holds, analysts see one last leg up — potentially hitting $220–$250 before the cycle slows. While the altcoin isn’t “dead,” sentiment suggests it may not replicate the explosive runs of 2021 or early 2024. Notably, SOL is retesting its November 2023 support vs. BTC, a level that previously triggered yearly lows after failing to hold.
Bottom line? Solana’s next move could be decisive — and a retest of $130 might be the springboard bulls have been waiting for.
