Solana is showing signs of recovery on the 1-hour chart, with buyers pushing the price back above the $103 level. The latest move has brought SOL close to a key resistance zone, making the next few candles important for determining whether this rebound can continue.
Current market structure
SOL/USDT is trading around $103.41, up approximately 1.45% on the chart. After a sharp decline toward the $100ā$101 area, the price began forming a recovery structure with higher lows and stronger upward candles.
The blue moving-average bands have turned upward, suggesting that short-term momentum is improving. However, the recent rejection near $104 shows that sellers are still active at higher levels.
If SOL holds above $103.30 and buyers manage to close a 1-hour candle above $104.05, the recovery could gain momentum. In that case, $105.00 becomes the next important resistance area.
A stronger breakout above $105 could improve the short-term structure further, but traders should look for confirmation rather than assuming every move higher will continue.
Bearish scenario
If the price fails to reclaim $104.05 and starts closing below $103.30, the rebound could lose strength. A move toward $102.77 would then become a reasonable area to watch for support.
If selling pressure increases further, the lower marked levels around $102.37, $102.23, and $102.08 could come into focus.
Final outlook
The chart currently favors a cautiously bullish recovery, but SOL has not yet confirmed a breakout. The most important question is whether buyers can turn $104.05 from resistance into support.
For now, the key levels are:
- Resistance: $104.05 ā $105.00
- Support: $103.30 ā $102.77
- Lower support: $102.37 ā $102.08
A breakout above resistance could strengthen the bullish case, while a loss of nearby support would suggest that the recovery is weakening.
This is a technical-analysis view based on the supplied 1-hour chart, not financial advice. Cryptocurrency prices can move quickly, so manage risk carefully.