Solana prints weekly buy signal, targets $100 resistance after 28% rebound

Technical Breakout Hints at Trend Change

The SOL/USD chart shows Solana trading at $95.28, up 27.8% for the week after starting near $74.54. This move brings price back above a descending structure that had guided the token’s decline over recent months. Olson pointed to the appearance of a weekly buy signal, noting its similarity to a previous cycle during which Solana initially dipped another 35% after flashing a similar signal, before eventually gaining 991%.

The possibility of repeating this trajectory remains uncertain, but Olson emphasized that the signal could be significant if SOL is indeed building a long-term base. The chart marks immediate resistance between $100 and $105, with the long-term blue trend indicator at $108.76 serving as a critical level. Sustaining a weekly close above this zone would indicate that buyers have regained control and potentially turn this resistance area into support.

On the downside, holding above $76.80 will be important for preserving the developing bullish setup. A close below that level on the weekly chart would challenge the macro-bottom scenario and raise the risk of a further decline.

Mini dictionary: Jesse Olson is an independent crypto analyst known for sharing technical chart analysis and insights on digital assets, particularly Solana, across social media platforms.

Solana has also approached a descending trendline drawn from previous highs. Breaking above this line, along with reclaiming the $108–110 region, would provide more robust confirmation than the buy signal alone.

Solana’s weekly technical chart flashed a buy signal near $95, prompting speculation among traders that the token is forming a macro bottom. Price action around the $100–$105 region will be crucial in determining whether a broader reversal can take hold.

Signal Confirmed, but Caution Remains

Olson’s updated chart later confirmed the buy signal had officially printed, highlighting a green indicator beneath the current setup. SOL briefly traded at $94.84 after a strong weekly candle broke out from the consolidation zone of the mid-$70s to low $80s. Indicator dots near price shifted away from the persistent bearish pattern seen during the decline.

This development is notable because Solana spent several weeks trading below the descending structure that followed a drop from above $200. The rebound now positions SOL near the $100–$105 resistance, centered around a key blue trend line.

A weekly close above this resistance would support a larger bullish reversal. However, failing to reclaim the area could see price slip back into consolidation, limiting immediate upside potential.

Olson remarked that, unlike Ethereum, Solana has yet to post a higher high, a technical milestone often used to confirm a shift from bearish to bullish market structure. As it stands, the weekly buy signal serves as an early but does not fully confirm a trend reversal.

Support at $75 to $80 remains pivotal for bulls. A drop below this zone would soften the current bullish narrative, while a deeper decline toward the mid-$60s would further undermine sentiment.

Solana’s weekly chart structure has improved with the new buy signal, but the decisive factor is whether the token can reclaim and hold above the 100–105 region, turning the signal into a broader reversal.

For now, traders are watching if Solana can sustain the recent breakout. Confirmation above resistance would mark a turning point for the asset, while rejection would leave the broader recovery in question.