Solana 4h BOS above 105.91 puts 107.48 back in play

A bullish break of structure through 105.91 on the 4h sets Solana back in the upper half of the last 24 bars, bracketed by 97.38 and 107.07.

The structure

The tape is in an uptrend, confirmed by a new high over 105.91 following a higher low at 100.21. That turn arrives within a ranging regime with an ADX of 18.84, so continuation depends on acceptance above the break and pullbacks finding buyers. The 20/50/200 EMA stack is bullish at 103.2, 102.06 and 91.82, and price holds above the anchored VWAP at 103.84. Volatility has expanded modestly with a Bollinger width of 6.71 and a percentile of 61.11, while RSI sits at 67.72 and MACD remains positive with a histogram of 0.4072. The key read: structure says up, but the regime warns to trade the levels, not momentum alone.

What the levels say

Nearest support is 105.6 with three touches and a strength of 0.744, aligning just below the 105.91 break. Below that, layered demand sits at 102.7 (three touches, 0.769) and 100.26 (two touches, 0.694), with a deeper floor at 97.64 (three touches, 0.786). Overhead, first resistance is 107.48 (one touch), which sits just above the 24‑bar high of 107.07; clearing that opens the prior cap at 110.6. The path is straightforward: hold above 105.6 to convert 105.91 from breakout line to base, then resolve 107.48 to free a run at 110.6. Failure back inside the 105s hands the initiative to 102.7 and 100.26.

Positioning

Derivatives do not yet chase the move. Open interest is 8,180,119.3 and fell 5.89% over three days, indicating a reduction in gross positioning during the push through 105.91. Funding ticked to 0.000008 against a seven‑day average of -0.000001, with a percentile of 34.5, i.e., a mild positive that is far from stretched. Spot is carrying more of the work as volume prints 216,349.6 versus a 20‑period average of 368,926.2, a ratio of 0.59 without a spike. That combination—lighter OI and subdued volume into resistance—favours continuation only if new participation arrives on a break of 107.48; otherwise the risk is a pop‑and‑fade back toward 105.6.

The setup

Bias: long. The entry sits in the 105.6–107.02 zone, using the 105.6 support cluster as the base and the breakout acceptance through 105.91 as confirmation. Invalidation is 104.74. The first objective is 110.6, with an extension to 114.06 if 107.48 gives way and momentum persists. The defined structure supports the risk:reward of 2.73 so long as 105.6 continues to act as a shelf and buyers add above 105.91. With ATR at 1.73 and regime still ranging, execution matters: acceptance above 107.48 should coincide with rebuilding open interest and a funding profile that remains contained around current levels.

A shift in character would come from failure to hold 105.6 that closes below 104.74, or repeated rejection at 107.48 without an OI rebuild. Acceptance back below 103.84 would hand control to supports at 102.7 and 100.26, with risk of a full backfill toward 97.64. Conversely, a sustained move through 107.48 on rising volume and OI would strengthen the trend case into 110.6 and keep 114.06 in scope as participation improves.