Solana is trying to stabilize around $83.80 after its recent depreciation. While the price has decreased by 2.8 percent in the last 24 hours, technical data and market analysts’ comments show that a significant squeeze and sudden movement potential has occurred. According to CryptoAppsy data, Solana is currently trading at $83.80.
Liquidity and Pressure of Short Positions
On the futures side, the accumulated liquidity at the level of $ 88 attracts attention. According to the findings of Jesse Peralta, an analyst experienced in financial markets, a short position of 12 million dollars is expected to be liquidated in this region. If the Solana price exceeds this resistance, it seems possible that the rise will accelerate with position closings. That is, a sudden upward move in the market could be triggered when the price rises above the $88 level.
Peralta suggested that “Solana’s accumulated liquidity interest at the $88 level could bring about a rapid rise in a possible breakout.”
Currently, price action is slowly gaining momentum, giving the impression that preparations are being made for an unexpected surge below resistance. This structure indicates that volatility may increase in the short term.
Reverse Shoulder Head-Shoulder Formation and Technical Outlook
Another element that attracts attention in technical analysis is the inverted head and shoulders formation that is forming. Bluntz, known for his analyzes in the crypto market, states that the left shoulder and head in the formation have been completed and the price has now started to form the right shoulder. Here, the “neckline” at $ 85 stands out as the critical threshold. If the structure is maintained, it is estimated that the price can target $94 and above in case of an upward break.
Bluntz evaluated: “With the completion of the formation and the breaking of the resistance, the advantage of the buyers will increase in the short term.”
The $78-80 range is the main support point that must be protected to prevent the formation from being disrupted. If it does not fall below this zone, it is expected that the buyers will gain strength and the formation will be completed.
$140 Target and Long-Term Support in Upward Movement
Another view that is optimistic about the technical outlook was shared by WebTrend. According to the analyst, if Solana breaks the $88–90 resistance, it is possible that the rise will accelerate and the price may approach $140 in a short time. According to this scenario, the first major resistances are between $105–110; Afterwards, the $130-140 region may be the new target.
When viewed from a broader time frame, according to analyst Ali Charts, the $ 48-50 band stands out as Solana’s main support level. Even though there are sharp fluctuations in the short term, the main market structure does not deteriorate as long as the price remains above this region.
Ali Charts shared the information: “The fact that Solana remains above its long-term support at $49 indicates that the structure maintains its solidity.”
On the other hand, it is also emphasized that in order for the long-term trend to turn completely upward, the major resistance area between $107 and $110 must be clearly overcome.
In summary, Solana seems stuck near the $88 resistance in the short term. If this level is exceeded by volume, a strong upward movement can be observed. Conversely, if the price turns down below resistance, $78–$80 is the first significant support; In case of possible sharp declines, the $49 level is followed as the main protection line.
