Solana has maintained a broad weekly trading range between $67.50 and $106 for the past five months, despite a volatile period in June when it tested the lower end of this range but failed to break below it amid heavy selling pressure.
The current price movement follows Solana's recent reclamation of its range after briefly dipping towards the lows during a high-volume selloff, according to crypto trader Ansem.
Ansem notes that the mid-$70 area may act as a support zone where Solana could form a higher low in the coming weeks. However, he remains cautious, suggesting price action will remain uneven until the asset decisively surpasses the upper range resistance near $106.
The coin is currently retesting a resistance zone between $81.50 and $88, with market observers noting that a sustained move above this area could signal further upside and strengthen the recovery thesis.