Solana Price Hovers Near Key Support as Analysts Watch for Liquidity Sweep

Solana's price has been trying to extend its recovery after rebounding from the early June low, according to analysts.

In a post on X, analyst More Crypto Online stated that Solana may be starting its next recovery phase, pointing to a one-hour Elliott Wave chart that shows price recovering and moving into a new upward structure.

The chart shows Solana trading near $71.88 after rebounding from the $57-$63 area, with the current structure suggesting an impulsive move higher.

The next resistance zone is marked between roughly $78 and $89, but Solana needs to hold nearby support around $69-$71 before it can continue toward this higher resistance zone.

TraderSZ is also watching for a liquidity sweep before the next move higher, with an ideal scenario being a sweep of intraday lows followed by a rejection and recovery toward the session high.