Overview
- SOL climbed about 10% from early‑June lows and is trading in the mid‑$60s after a sharp selloff from May highs.
- Analysts point to a daily falling wedge and a 4‑hour ascending triangle that project upside targets near $68–$76 if resistance is taken out.
- A key technical confirmation cited by cautious traders would be a decisive break above about $72.57 and a sustained five‑wave advance.
- The June drop forced large liquidations — reported at more than $89 million — and heavy selling by big holders, leaving liquidity thin and downside risks intact.
- Some commentators note SOL now sits in a 0.5–0.618 Fibonacci band that preceded big rallies in the past but that historical analogue and $1,000 style targets remain speculative without broader market confirmation.