SOL/USD Forecast: Solana Holds Near 84.38 as Market Remains in a Wide Sideways Range

At the beginning of the month, the SOL/USD pair attempted to break out of the medium-term sideways range of 91.00–75.00, moving through its upper boundary. The price reached a four-month high near 98.30, but then lost all of its gains and pulled back to 84.38, the Murray level [3/8]. Overall, the market has likely reached a local bottom, but there are still no clear drivers for a confident recovery, which suggests that the pair may continue moving within a broader sideways range of 100.00–75.00. A breakout above 92.62, the Murray level [5/8], supported by the middle line of the Bollinger Bands, would strengthen the bullish impulse and allow buyers to consolidate around 100.00, the Murray level [8/8], 107.40, the 61.8% Fibonacci retracement, and 125.00, the Murray level [4/8] on W1. Meanwhile, a break below 81.25, the Murray level [2/8] and the lower line of the Bollinger Bands, would act as a catalyst for a test of 75.00, the Murray level [0/8], 68.75, the Murray level [–2/8], and 62.50, the Murray level [2/8] on W1.