Solana (SOL) may be headed toward a key demand zone between $50 and $70 after an extended rally, but analysts say the deep correction could reset momentum and set up conditions for a move toward $500 or even $1,000 over the longer term.
SOL Correction Targets
Crypto analyst Crypto Patel warned that SOL's path to $1,000 will not be a straight line. The current price action shows the market cooling after a prolonged uptrend, with signs of distribution emerging at higher levels.
Key support sits between $70 and $50.
Notable liquidity rests below $60, an area that could face a sweep before any reversal takes hold. A break below $70 may accelerate selling pressure toward the $50 zone.
Short-term bias remains bearish below $70. Patel noted that the $70-to-$50 range stands out as a primary accumulation area, while long-term targets still point to $500 and $1,000.
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Osemka Wave Analysis
Crypto analyst Osemka identified Solana as one of the clearest impulsive wave structures in the market.
SOL completed a textbook 1-5 wave move from Dec. 2022 to Jan. 2025, a pattern that typically precedes a healthy corrective phase.
SOL now appears to be tracing an ABC correction within a defined channel. Wave C is testing a high-timeframe support zone, while the RSI suggests a potential diagonal retest. Holding this level could trigger a higher-timeframe reversal, with April emerging as a critical period.
A confirmed reversal in Solana could also serve as a leading indicator for the broader altcoin market.
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