Solana (SOL) Nears Critical Technical Level: Will History Repeat for Its Next Major Move?

Solana’s SOL token has rallied to a critical technical level that could determine its next major move.

According to widely-followed analyst Rekt Capital, SOL is now testing the $61 resistance level that previously capped upside in 2021. This area lines up with the top of a key range defined by horizontal resistance and an ascending trendline.

Notably, SOL stalled out and retraced sharply the last two times it reached this zone over the past year. Rekt Capital suggests history could repeat itself once again.

On the way up, SOL also faced stiff resistance around $53, resulting in consolidation before eventually breaking out to the current $61 area. This underscores just how significant the $61 barrier is from a technical perspective.

A rejection here would open the door for a pullback toward the bottom of the range around $35, where SOL found support earlier this year.

However, a decisive daily close above $61 would be very bullish and suggest room to run toward horizontal resistance around $88. This would represent a new high for the cycle.

Read also:

In summary, SOL is at a pivotal make-or-break level that has repeatedly stopped rallies over the past year. How it acts around $61 will offer meaningful clues about whether recent strength marks the early stages of a macro-uptrend or a short-term bounce within a broader downtrend.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Felix Küster
Felix Küster

Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.