Solana is consolidating near $75 after breaking above a key resistance zone, with traders now watching $80 and $85 as the next short-term upside levels. According to a 4-hour chart analysis from EliZ, the $73–$75 area has become the critical support zone that could determine whether SOL extends its recovery or falls back into its previous range.
The chart shows SOL stabilizing around $75.5 following its earlier rally. The move followed the expected breakout setup, and price has since pulled back to consolidate just above the highlighted support. Holding the $73–$75 zone would support a bullish interpretation, while a decisive break below $73 would weaken the structure and increase the risk of a deeper pullback. A stronger rebound could bring $80 into focus first, followed by $85 and a higher horizontal level near $87.20.
However, a separate weekly Elliott Wave outlook from Echo Analysis remains more cautious. The weekly chart shows SOL bouncing from the 0.786 Fibonacci retracement at $63.89, but the analyst warns this bounce may not mark the final low. If Bitcoin and Ether make new lows, Solana could be dragged lower, with the next major level at the 0.887 Fibonacci retracement near $37.10. That area is marked as a potential completion zone for wave C and the larger corrective wave (2).
Despite the near-term caution, the long-term projection is considerably more aggressive. Once the correction is complete, the chart maps a potential wave 3 advance toward the 1.618 Fibonacci extension near $416.24, representing an indicated move of roughly 1,047% from the deeper support area. For now, $63.89 is the first level to watch: holding above it would strengthen the case that SOL is already forming a base, while a decisive break below would make the $37.10 support zone more relevant.
