Solana price must break $78 for further rise

The Solana price is currently at $73 and in a tricky position. Sellers remain in control, but buyers are trying to gain local ground. According to analyst AltCryptoGems, there is one crucial level that Solana must break to trigger a nice upward move.

Solana is available at OKX and Bybit.

The key level: $78

The chart shows that the Solana price has been moving in a broad sideways channel for some time, roughly between $78 and $105. Recently, the price has dropped below the bottom of that channel to the current level around $73. Buyers are now trying to stage a comeback, but selling pressure is still clearly felt.

The analyst speaks of a so-called “power of 3” setup. This is a technical pattern where the price first dips, then moves back up, and subsequently shows a strong breakout. The condition is that Solana manages to flip the $78 level. As long as that does not happen, the analyst advises caution with long positions.

Potential towards $105 if $78 is flipped

If Solana manages to reclaim the $78 level, the analyst sees room for an expansion towards $105. That is the top part of the earlier trading channel and would represent a rise of over 40% from the current price. On the chart, this expected move is shown as an arrow shooting upward from the green zone to the red resistance line.

If you want to know more about the network behind this coin, our explanation of Solana provides a good starting point. As long as the price stays below $78. the situation remains technically uncertain. The coming days will therefore be crucial to see whether buyers manage to turn the tide.