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Just noticed SOL bounced back to that familiar $80-$85 zone everyone keeps talking about. Now it's sitting around $93, and honestly, this is the same price range that pumped 2,200% last cycle. Wild to think about.
The thing is, this support level has shown up multiple times across different market cycles. Back in 2021 it was a launching pad from single digits all the way past $250. Then after the 2022 crash when it hit $10, it climbed back up to nearly $290. So yeah, when analysts like Patel point out SOL returning to this zone, there's actually something there.
Looking at the liquidation data from CoinAnk, there's a lot of short positions stacked between $84 and $87. Price bounced off $81 and came back up, which is interesting. The key level everyone's watching is $106.24 - if we break above that, it signals real bullish momentum. Beyond that, $260 is the next major target, but that's still pretty far out.
Technically, SOL is trapped in this expanding triangle pattern with lower highs and higher lows. We're near the bottom of it around $75-$85. If the support holds, the breakout could target $250-$300. But if it fails and drops below $60, then we're looking at $45 as the next level.
Right now it's all about whether buyers can defend this zone. Break $106 and we're probably heading higher. Lose $80 and things get messy.