Solana is testing a key support area near $73, a level that could shape its next short-term move. According to analyst Crypto Patel, holding that area and reclaiming $77 would keep the current recovery structure intact, while longer-term targets at $500 and $1,000 would require several major breakouts first.

Solana Nears Critical $73 Support

Solana is trading around a support zone near $73 that Crypto Patel described as important for maintaining its bullish structure. He said a failure to hold the level could expose deeper liquidity between $68 and $64.

SOL six-hour chart. Source: Crypto Patel/TradingView

The six-hour chart places SOL near $73.90, close to the 0.382 Fibonacci retracement level at $73.89. The price is also near an ascending trendline that has supported the recovery since June, with buyers defending the same rising structure during several earlier pullbacks.

These technical levels are being watched because they help define whether the recent pattern of higher lows is still intact. Fibonacci retracement areas and trendlines do not guarantee direction, but traders often use them to identify where buying or selling pressure may reappear.

However, SOL remains below descending resistance that extends from the July high near $84. A move back above $77 would put the price above that trendline and support the case for another advance toward $80 and $84.

If SOL loses the $73 area, the current sequence of higher lows would weaken. The next support level is near the 0.5 Fibonacci retracement at $71, followed by a broader region between $68.22 and $64.46.

A break below $64.46 could expose the June low around $60. By contrast, reclaiming $77 and holding above it would indicate that buyers have regained short-term control.

For now, Solana remains at a decision point. Defending $73 would keep the recovery structure in place, while a confirmed breakdown would point to a deeper correction toward the $68-$64 region.

Long-Term Chart Highlights $500 and $1,000 Conditional Targets

Solana is also trading near a major long-term support region that Crypto Patel views as a potential accumulation area. His weekly chart includes possible targets at $500 and $1,000, but those projections depend on SOL first holding support and breaking through several major resistance zones.

SOL weekly chart. Source: Crypto Patel/TradingView

The weekly chart places SOL near $74, slightly above Fibonacci support around $72.55. A broader entry zone extends toward approximately $52, where earlier demand and long-term structural support converge.

Holding the $52-$73 region would preserve the bullish setup shown on the chart. A sustained breakdown below that area, however, could expose midrange support near $32.50 and weaken the long-term recovery thesis.

The first major upside obstacle is near $101. Reclaiming that level would strengthen momentum, although SOL would still face heavier resistance between roughly $180 and $295, including the area around its former record high.

A confirmed breakout above that broader resistance zone could bring the $500 target into focus. The chart also projects a possible extension toward $1,000, which would represent a gain of about 1,900% from the lower support area.

Because the long-term targets sit well above current price and beyond multiple resistance zones, the chart depends on confirmation rather than a single support hold. Market participants watching this setup would likely look for whether SOL can first reclaim shorter-term resistance, then sustain moves above the higher weekly levels outlined in the analysis.

Those targets remain dependent on Solana repeating a previous breakout-and-retest structure. At present, SOL is still near support rather than in a confirmed expansion phase, making the $500 and $1,000 projections long-term and highly conditional.

Source: https://coinpaper.com/33472/solana-price-prediction-holding-73-could-open-the-door-to-a-major-breakout