Solana Unfazed by Short-Term Correction..."Break above $98 Opens Path to $118"

▲ Solana (SOL)/AI generated image

An analysis suggests that Solana (SOL) is maintaining its upward structure by holding key support levels despite short-term correction pressure. Although profit-taking emerged after a recent strong breakout, further upward momentum is expected if major resistance levels are recaptured.

According to NewsBTC on May 14 (local time), Solana recently broke through key trendline resistance and rose approximately 10%, reaching its first upward target zone. Market analyst Bitcoin Meraklısı analyzed that selling pressure entered after the price reached this zone, leading to short-term profit-taking.

This decline is interpreted as a short-term correction rather than a broader bearish reversal. A temporary pullback after a strong rally is a natural progression, and even if Solana falls to around $92, it can technically remain within a healthy structure. However, to resume the upward trend, it must break above the $98 resistance zone again and establish support above it.

CryptoXLARG analyzed that Solana successfully broke out of a long-term downtrend channel, signaling a structural shift. Currently, Solana is consolidating in the $92 to $95 range, which is presented as a base-forming process for a trend reversal after several months of downward pressure.

For the upward momentum to gain strength, it needs to consistently recover the $95 level and confirm it as new support. If this zone solidifies as support, technical targets could open up to $102.70, $106.50, and $118.26. The analysis also suggested that in a market environment with high momentum, macro targets could extend to $143 and $163.

On the defense side, $92 was mentioned as an immediate support level to maintain short-term optimism. If volatility increases, $89 and $78 were suggested as the next support zones. Failure to hold $78 could invalidate the current upward structure and lead to a deeper correction toward the $70 mark. The sustainability of Solana's current breakout trend is expected to be determined by whether it holds the $95 pivot.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*