- Solana has stayed above $69 for 1.5 years and now traders monitor $235 resistance for a breakout.
- Fibonacci levels mark $692 as the 1.272 extension and analysts see this target if $235 is broken.
- The weekly chart shows Solana capped by the supertrend yet buyers remain firm above strong support levels.
Solana (SOL) has been trading above the golden pocket for more than 1.5 years, consolidating since spring 2024. Analysts now expect that if SOL breaks the weekly supertrend resistance, the price could extend toward the $692 Fibonacci target.
Extended Consolidation Above Key Support
The chart shows that Solana has held firm above the golden pocket, anchored near the 0.618 Fibonacci retracement at $69.68. This extended sideways action highlights resilience, as the coin has absorbed repeated selling pressure without breaking below its support range.
Traders observe that this behavior indicates strong accumulation. The longer SOL holds this area, the greater the potential energy for a breakout. Market participants see this as the foundation for an upcoming directional move.
Immediate resistance stands near $235, which aligns with the 0.888 Fibonacci retracement level. A sustained weekly close above this barrier could trigger a new wave of bullish momentum, unlocking higher upside targets.
Fibonacci Roadmap for Next Targets
Fibonacci retracement and extension levels provide a structured path for Solana’s potential price development. Key retracement zones remain $125.60 at the 0.786 level and $235 at the 0.888 level, both acting as checkpoints for traders.
The weekly supertrend continues to cap progress, serving as dynamic resistance. Analysts believe a breakout above this trendline would mark the shift from consolidation to impulsive growth.
Upside projections include the 1.272 extension at $692 as the primary target. Beyond this, the 1.414 extension is mapped at $746, with the 1.618 positioned at $859. These levels form the broader bullish roadmap if momentum accelerates in coming sessions.
Volume patterns will be crucial in confirming this scenario. Increased participation on upward moves would validate the hypothesis that SOL has been building energy during consolidation.
Can Solana Clear $235 Before Surging Toward $692?
The pivotal question remains whether Solana can successfully clear the $235 barrier before advancing toward the $692 Fibonacci extension. Without this breakout, SOL could remain bound within its sideways range for longer.
Market analysts point out that Solana has already absorbed downward pressure since early 2024. Its resilience above the golden pocket underscores the strength of long-term holders and institutional participants.
If SOL fails to breach resistance, downside levels still offer important support. Retracement targets include $125 at the 0.786 level and $85 at the 0.702 retracement. These levels would provide structural bases for any renewed attempts higher.
For now, traders remain focused on the weekly candle close. A decisive breakout above $235 would validate bullish continuation and open the path toward $692, shifting Solana from consolidation into expansion.
