Solana spent most of August grinding sideways between $72 and $80 before staging a powerful September breakout that pushed SOL as high as $120 on September 22. The daily chart shows the move was built on months of quiet accumulation: SOL bottomed near $60 in June, then defended the $76 level three separate times before turning aggressive.
The most important demand zone now sits between $76 and $81, almost exactly where the September rally launched. That area also lines up with the old July high near $84.50, a level that flipped from resistance into support once price closed above it. A rising trendline connecting the June low, the August range floor, and the breakout candle continues to support the daily structure, and as long as that line holds, buyers remain in control.
On the four-hour chart, the September 16 swing low near $96 is the anchor. SOL broke structure twice from there: first clearing $115, then printing a fresh high above $120. A tighter order block between $107 and $109.50 marks the last red candle before the impulsive push into the $118–$120 zone and is the first real test if the pullback deepens.
The one-hour chart shows the entry logic. SOL swept $107.90 on September 20, taking out stops below the prior range low, then reversed hard through $112. That reversal candle is the bullish order block worth watching. Price broke through $115.80 and climbed into $120 before printing lower highs, an early change of character that traders should not ignore.
CoinGlass liquidation data supports the technical picture. The Binance SOL/USDT heatmap shows a thick band of leveraged shorts just above $120, closely matching the daily buy-side liquidity pool. If SOL trades back into that $120 pocket, those stacked shorts could become fuel for another leg higher rather than a wall.
The key zone to watch is now $115 to $116.80. Holding that area keeps the bullish read intact across all three timeframes. Losing $112 with conviction brings the four-hour order block into play, with $107 to $109.50 as the deeper retest. A daily close below $108 would put the entire June trendline in danger. The analysis is not financial advice, and the broader risk-on mood across crypto markets remains an important backdrop.
