After weeks of consolidation, SOON price has broken above key resistance. What’s next for the Solana Optimistic Network token?
Summary
- Breakout confirmed above $0.4292 after weeks of consolidation, pushing SOON price toward August highs.
- Short-term retest likely at $0.43, but holding this level could trigger a move to $0.55–$0.60.
- Stronger support lies at around $0.35, with technical confluence pointing to a potential pullback zone after an overextended move.
Solana Optimistic Network (SOON) token is up 25% in the past 24 hours, currently trading at around $0.48, after breaking out from weeks of consolidation above the 0.618 Fib support level. The surge appears to have been catalyzed by its recent listing on Kraken on Sept. 26.
The breakout propelled SOON price past the key resistance zone at $0.43 — the 0.382 Fib level — and pushed it toward August’s liquidity range. This area previously marked a sharp distribution zone, where sellers stepped in aggressively following the early August spike.
Reclaiming this level suggests that bullish momentum is strong enough to challenge prior supply and potentially target the next resistance band between $0.55 and $0.60, where SOON price was rejected during its last rally.
What’s next for SOON price?
Looking ahead, a retest of the breakout zone around $0.43 is likely, as short-term traders will look to lock in profits following the sharp move. If buyers defend this zone, it could provide a launchpad for continuation toward the $0.55–$0.60 resistance range — representing a potential 14% to 30% upside from current levels.
Below that, a stronger support sits around $0.35, where the 20-day SMA converges with a rising trendline, reinforcing it as a key area of interest for dip buyers. With exchange listings often leading to overextended short-term moves, this zone looks like a more probably target for containing the decline as SOON price pulls back.
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