Solana Eyes $117 Breakout: The Key Resistance Bulls Must Crush

After a turbulent start to the year, Solana (SOL) is showing signs of a potential major trend reversal. While the altcoin has been confined to a tight consolidation range for months, market analysts believe a breakout above a critical psychological barrier could trigger a massive 30% rally.

The Battle for $98

Since falling from its yearly high of nearly $150, Solana has remained largely stagnant, bouncing between a floor of $75 and a ceiling of $100. Despite recent bullish momentum fueled by legislative progress in the US Senate, SOL has struggled to sustain a breakout. Popular market analyst Ali Martinez has identified $98 as the definitive level to watch. According to Martinez, this price point represents the upper boundary of a "well-defined" horizontal channel that has restricted price action throughout the second quarter of 2026.

Path to the $117 Target

Technical indicators suggest that if Solana can achieve a daily close above the $98 resistance, it would likely ignite a surge toward an immediate target of $107. However, the ultimate prize for bulls lies at the secondary target of $117. Reaching this level would represent an approximate 30% climb from current prices. Conversely, if the $98 ceiling remains intact, traders should prepare for a potential pullback to the $88 pivot point or even a retest of the $78 channel floor.

Market Sentiment and Macro Factors

The success of this breakout depends heavily on the broader crypto market climate. While Solana’s internal network activity has seen fluctuations, its price sensitivity to macro news—such as inflation reports and regulatory shifts—remains high. For SOL to maintain a sustained upside, investors are looking for a combination of technical strength and an improved global financial outlook to provide the necessary tailwinds for a move back toward triple digits.