Log in

Market Direction

Solana consolidates as market awaits key breakout

Published: Oct 7, 2024
0
Share:

SOL’s price stays in a tight range between $143 and $162. A move above $162 could lead to a bullish run. Will SOL push higher soon?

Post Feature Image

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


  • As the price increased to $160, Open Interest increased considerably as Funding increased. But, this wasn't followed by a Spot bid, which led to an over 20% decrease in OI as late Longs were flushed out.
SOL mechanics:

5. Solana price action with funding rates, open interest, and cumulative volume delta shown for analysis.

Technical analysis

  • SOL is still in its range between $120/$131 support to $162 resistance.
  • However, SOL is now back above its main downtrend line and above the local horizontal resistance of $143.
  • To the upside, the local resistance is $162, and the more major resistance is $185.
  • To the downside, we expect $120 to $131 to continue to act as a strong support zone for price.
  • The RSI is similar to BTC and ETH's, back in middle territory but beneath its Moving Average.
6. Solana price chart with key support resistance zones and trend lines, alongside an RSI momentum indicator.
  • Next few days prediction: Neutral ($137 to $162)
  • Next 7 days prediction: Bullish
  • Next 7 days price target: $162

Cryptonary's take

In all fairness, SOL itself has been quite boring recently, yet the ecosystem continues to see great gains, particularly in the Meme space. Our expectation is that over the coming days and weeks, SOL might remain range-bound, but we expect once SOL breaks out of $162, that'll be the bullish reversal that'll send the price back to $200.

We're expecting further chop over the coming days, but in this higher range, between $143 and $162. If the Inflation data is positive, that might be enough to see SOL breakout of $162, but we'd at least a retest of $162 on positive Inflation data.

100% Success Money Back Guarantee

If our approach doesn’t outperform the overall crypto market during your subscription, we’ll give you a full refund of your membership. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Terms & Conditions apply

Star

Trusted by 300,000+ traders

Take your next step towards crypto success

Save 50%

$799/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

What’s included in Pro:

  • Success Guarantee, if we don’t outperform the market, you get 100% back, no questions asked

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • Our latest memecoins pick with 50X potential

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

If our approach to the market doesn’t beat the overall crypto market during your subscription, we’ll give you a full refund of your membership fee. No questions asked. For quarterly and monthly subscribers this is applicable once your subscription runs for 6 consecutive months.

Recommended from Cryptonary
BTC, ETH, and More: Double Bottoms and a Critical Bounce
PRO
Market Direction
BTC, ETH, and More: Double Bottoms ...Markets rebound off key lows, BTC and major alts flash double bottom signals. Will support hold for ...
6 min read
Oct 20, 2025
BTC, ETH, and More: Bearish Pressure as Key Support Levels Break
PRO
Market Direction
BTC, ETH, and More: Bearish Pressur...Markets face critical retests with BTC and major alts breaking supports; all eyes on bounce zones an...
7 min read
Oct 17, 2025
BTC, ETH and More: Key Supports Reclaimed, Next Targets in Play
PRO
Market Direction
BTC, ETH and More: Key Supports Rec...Markets are showing signs of recovery after last week’s turbulence. Bitcoin and Ethereum are stabili...
4 min read
Oct 15, 2025