Is Solana price dropping under $100 in September?

SOL price has lost support and closed multiple daily candles below the 200-day EMA for the first time since September 2023. 

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Solana (SOL) Surges Past $130 Resistance As Funding Rate Signals Bullish Momentum

The crypto market experienced a notable surge yesterday, with Solana (SOL) breaking past the crucial 4-hour resistance at $130. This breakout has caught the attention of investors, who now anticipate a potential price surge in the coming months as market sentiment remains optimistic. Related Reading: Solana (SOL) 180-Day Consolidation Set to Break: Massive Rally Just Around the Corner? Many analysts are forecasting further gains, pointing to Solanas recent performance as a key indicator of its strength. Investors are particularly focused on SOL’s ability to maintain its momentum, with growing demand and increased interest fueling bullish predictions for the altcoin. In addition to market enthusiasm, Coinglass’s on-chain metrics reveal a positive outlook for Solana. These metrics reinforce the bullish momentum, suggesting a potential Solana rally. As more investors look to capitalize on these trends, Solana’s performance could soon play a crucial role in determining the overall market direction for altcoins. Solana On-Chain Metrics Suggest Strength   Solana is currently testing local supply and attempting to break past a crucial daily resistance level at $137l, as on-chain metrics from Coinglass reveal a strong bullish sentiment among traders and investors.  One key metric highlighting this bullish sentiment is Solana’s Open Interest (OI)-Weighted Funding Rate, which currently stands at +0.0068%. When the funding rate is positive, traders holding long positions pay funding fees to those with short positions, which typically indicates expectations for rising prices. This suggests bullish momentum is building, with traders anticipating a short-term rally in Solanas price. The growing interest from long positions further supports the thesis that Solana may be gearing up for a price surge. Bulls dominate the asset, and the data indicates a strong possibility that SOL could break out of its current trading range if the market conditions remain favorable. However, for this bullish outlook to hold, Solana must break through its current resistance level at $138 and close a daily candle above this key point. If the price breaks and holds above $138, it could signal a potential move toward higher price targets in the coming weeks. Related Reading: Avalanche (AVAX) Ready To Target $28: Investors Expect A Reversal As the market evolves, traders will closely watch Solanas price action and market structure to gauge whether a significant rally is imminent. In the meantime, Solana continues to show promise, with bullish indicators supporting a positive short-term outlook for the asset. SOL Price Action Solana (SOL) is currently trading at $135, just 4.5% away from a crucial technical indicator: the 4-hour 200 exponential moving average (EMA), which sits at $141.14. This level is a key marker of strength for SOL, and reclaiming it would signal that the bulls are gaining momentum. If SOL successfully breaks through the $135 resistance level and reclaims the 4-hour 200 EMA, it could trigger a significant upward move toward the $160 supply zone. This would mark a major recovery for the asset, potentially attracting more buyers and pushing the price higher. Related Reading: Cardano (ADA) Rally Brewing? On-Chain Metrics Suggest Investors Optimism However, if Solana fails to break past the $135 resistance, a retracement to lower demand levels is likely. $126 is the buyers’ next potential support level to step in and prevent a price drop. As SOL continues to test these key levels, traders are watching closely to see whether the bulls can maintain control or if a correction is on the horizon. Featured image from Dall-E, chart from TradingView

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Solana Price Crashes Below $160 Amid Revelations Of FTXs Hidden SOL Stash

The Solana price has been rocked by the latest bombshell revelations surrounding the collapse of crypto exchange FTX. According to a whistleblower claiming inside knowledge of FTX’s operations, the now-bankrupt company is secretly holding a massive stash of Solana tokens – up to 8% of the entire SOL supply. Triggering Fears Of Massive Sell-Off By the numbers, if these allegations are true, this would equate to approximately 46.5 million SOL tokens worth about $7 billion at the current market price, which is $155 at the time of this writing.  Related Reading: Cardano Goes Toe-To-Toe With Ethereum As Whales Scoop Up 120 Million ADA “I’m not saying Solana will go to zero, but if this news is true and FTX starts to sell the tokens in the open market, then it could dump the price of Solana significantly,”  warned a crypto user who spread the news on social media site X, known only as Wise Advice. In the wake of the news, Solana’s price plummeted below the critical $160 support level, dropping over 9% in the past two weeks and nearly 4% in the past 24 hours as rumors of FTX’s secret SOL holdings circulated.  Solana Price Risks Freefall The revelations come on the heels of the FTX estate’s previous sell-off of discounted SOL tokens to repay creditors affected by the exchange’s collapse. Just two months ago, Bitcoinist reported that the estate offloaded a $2.6 billion trove of SOL at around $102 per token. Venture capital firms like Pantera Capital and Figure Markets scooped up large portions of this discounted SOL allocation. It is worth noting that these tokens remain subject to a multi-year vesting period, limiting their immediate impact on Solana’s market dynamics. On the other hand, the alleged hidden FTX stash, if true, could overshadow the impact of these sales and pose a formidable challenge to the Solana price in the near term.  Related Reading: Bitcoin Down But Not Out: BTC To $700,000 Highly Probable Says Analyst With the potential for over $7 billion in Solana tokens to eventually hit the market, the cryptocurrency’s price may face intense selling pressure that could undermine its bullish prospects.  Still, it is imperative to note that these are only rumors and have not been confirmed by the exchange’s bankruptcy state, and that no further information has been released on the matter, including whether the state overseeing the exchange’s repayment operations plans to sell these tokens to repay creditors, if true. Potential $140s Plunge In terms of immediate price action, crypto analyst Pratty Crypto has highlighted several technical factors that could signal further downside continuation for the cryptocurrency in the coming days.  Pratty Crypto contends that Solana is facing a “lot of confluence” that points to a potential move towards the $140 zone. This includes Solana trading at a discount to the previous quarter’s mid-range, testing a key quarterly open level, and retracing 62% of its recent price run-up. In addition, Pratty Crypto warns that the deeper Solana’s price goes into the $130-$150 order block, the less likely it is to hold, potentially leading to more substantial losses.  Featured image from DALL-E, chart from TradingView.com

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Solana Poised For $400-500 Upside As Analyst Spots Wave 5 Formation

Solana (SOL), one of the largest digital assets in the market by market capitalization, has been in a period of price consolidation, oscillating between the $140 and $150 price range. This period follows a significant drop that saw SOL plummet to $109 on August 5th, with a modest recovery since then.  However, despite its resurgence, [...]

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Solana Looks Ripe To Push Higher, Is A Mania-Like Rally To $600 Coming?

Solana (SOL) was recently in the spotlight after the US Securities and Exchange Commission (SEC) adjusted its complaint regarding the classification of SOL. The network also ranked as the second largest revenue-generating crypto project on Monday. Following this, some market watchers shared their predictions regarding the tokens recent performance. Some highlighted that a recent rejection [...]

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Bullish Solana Forecast: Expert Sees SOL Reaching 50% Of ETHs Market Cap This Cycle

Solana (SOL), the fifth largest cryptocurrency in the industry, saw a notable resurgence over the weekend, in line with the broader market rally and Bitcoin’s (BTC) rebound towards the $63,000 mark for the first time in over a week.  SOLs price has successfully recovered from the losses of the past few months, surpassing the $150 [...]

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Solana Price Tipped For Explosive 1,800% Rally, Analyst Foresees $2,800 Price Target

The Solana price has experienced a significant decline, mirroring the price action of major cryptocurrencies like Ethereum (ETH) and Bitcoin (BTC) over the past month. However, a crypto analyst has identified a significant parallel between the price movements of Ethereum in 2017 and Solana’s recent price performance. In a recent social media post, crypto analyst [...]

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Solana Primed For Massive Gains: Crypto Pundit Forecasts $600 Price Target

In recent weeks, Solana (SOL), the 5th largest cryptocurrency on the market, experienced a period of decline, hitting a two-month low of $121 on Friday. The coin’s value struggled to break above the $188 level in May, resulting in a continuous downtrend further exacerbated over the past seven days with the general markets correction.  However, [...]

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SOL Price Soars As First-Ever Solana ETF Filing Surfaces In The US

The cryptocurrency market has taken another step towards regulated and mass investment in cryptocurrencies with the first-ever application for a Solana ETF in the US by asset manager and Bitcoin ETF issuer VanEck.  Following the approval of spot Bitcoin ETFs in January and the anticipated launch of Ethereum ETFs in July, this development marks another milestone in expanding cryptocurrency investment options for retail and institutional investors. The news of VanEck’s Solana ETF filing with the US Securities and Exchange Commission (SEC) caused a surge in the native token SOL, with its price rising nearly 8% upon disclosure by Matthew Sigel, VanEck’s head of digital asset research.  VanEck’s Confidence In Its Solana ETF Filing In a social media post, Sigel highlighted VanEcks reasons behind the filing, emphasizing Solana’s potential as a competitor to Ethereum and its ability to support various applications such as payments, trading, gaming, and social interactions. Describing Solana as open-source blockchain software designed for scalability, speed, and low costs, Sigel explained that the platform offers an enhanced user experience across multiple use cases.  Related Reading: Fears Of Bitcoin Sales By US And German Govts Are FUD, Even Bullish: Experts Sigel also cited Solana’s ability to process thousands of transactions per second at low fees and use a secure mechanism based on proof-of-history and proof-of-stake as reasons for the bold move to file the Solana ETF with the SEC on Thursday. VanEck believes that Solana’s high throughput, low fees, strong security, and vibrant community make it an attractive option for an ETF, providing investors with exposure to an innovative open-source ecosystem.  In addition, Sigel believes that the native token SOL serves as a means of payment for transaction fees and computing services on the Solana blockchain, similar to Bitcoin and Ethereum in their respective networks, suggesting that it should be classified as a commodity rather than a crypto security, thus having a strong argument for SEC approval of the Solana ETF.  Analysts Anticipate Bullish Sentiment While the news of a Solana ETF filing has generated excitement, some experts express caution. For instance, Bloomberg ETF expert James Seyffart suggests that the Solana ETF might only launch in 2025 under a new administration in the White House and SEC as the anticipated election date in the US nears, with crypto regulation as one of the main topics in the race for the White House.  In addition, market analyst Adam Cochran highlights unresolved SEC claims and Chicago Mercantile Exchange (CME) futures volume requirements in the US as potential challenges to ETF approval. Cochran further said: If this does get approved though, floodgates opened, were getting ETFs for everything and it would be a wildly bullish market for every single coin. Related Reading: Why Is The Bitcoin Price Down Today? Ultimately, the filing of a Solana ETF by VanEck sets an important precedent for the cryptocurrency market. If successful, it could pave the way for broader adoption and recognition of Solana as a valuable digital commodity, offering investors, builders, and entrepreneurs alternative opportunities. At the time of writing, SOL was trading at $147 and even reached the $150 resistance line, which would be a near-term obstacle for the token in its intentions to regain previously lost levels.  Featured image from DALL-E, chart from TradingView.com

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Solana Eyes $200 Rebound As New Adoption-Driving Technology Debuts

The Solana Foundation recently launched two new tools to facilitate the integration of Web3 capabilities into mainstream platforms and the adoption of blockchain.  In a series of social media posts, the foundation launched Actions and Blockchain Links (Blinks), which, according to the announcement, is a step forward in allowing developers to build blockchain functionality into [...]

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Solana Price Braces For Potential Crash Below $100 Amid Investigation Rumors

The Solana price has experienced a sharp decline over the past month in line with the broader market correction, intensifying concerns as rumors of a potential investigation into the popular blockchain platform have recently surfaced. Regulatory Storm Brewing?  In a social media post on X (formerly Twitter), market expert Crypto Bitlord, who has a considerable [...]

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Solanas Surge: Heres Why This Analyst Is Predicting A Rise To $360

Recently, a popular crypto trader and YouTuber has predicted a substantial surge in Solana price, forecasting it could reach as high as $360 soon. This prediction is underpinned by a technical pattern on Solana’s charta bullish signal suggesting a potential reversal from bearish to bullish momentum. Related Reading: Bitcoin ETF Issuer Franklin Templeton Bullish On Solana (SOL), Foresees It As 3rd Largest Crypto Technical Insights Into SOL Potential $360 Rise According to the trader, CryptoJack on X,  SOL has developed a “rounding bottom pattern” over an extended period, indicating it is on the brink of a significant breakout. Notably, the ’rounding bottom’ pattern, characterized by a gradual decline followed by a stabilizing trend and an upward breakout, is a classic bullish indicator in technical analysis. CryptoJack’s analysis points out that Solana is setting up for a significant uptick, aiming for a price target double its current value of approximately $146. Solana formed a rounding bottom pattern over many weeks and is primed for an explosion any moment now. I entered a Long position on $SOL and expect it to break ATHs this year! #Solana pic.twitter.com/ApUazaXXz5 CryptoJack (@cryptojack) May 8, 2024 Not only does CryptoJack see a bright future for Solana, but other analysts, such as Altcoin Sherpa, also maintain a bullish stance, with projections of the token potentially surpassing $500 this year. This would represent a 300% increase from its current level, adding to the 589% growth it has already achieved year-to-date. Solana Challenges Ethereum While Solana has shown notable growth, some of its key metrics are also beginning to keep up the pace. Dan Smith, a senior research analyst at Blockworks, suggests that Solana could soon surpass Ethereum regarding transaction fees and capture Maximal Extractable Value (MEV). Smith’s analysis of X highlights that Solana’s total economic value is nearing Ethereum’s, indicating its increasing relevance in the blockchain space. Solana will flip Ethereum in transaction fees + captured MEV this month, maybe even this week Dan Smith (@smyyguy) May 7, 2024 Despite this competition, Ethereum maintains a significant lead in daily transaction fees and total value locked (TVL). In the last 24 hours, Ethereum generated over $2.75 million in fees, compared to Solana’s $1.49 million. Moreover, according to data from DeFillama, Ethereum’s TVL of over $53 billion dwarfs Solana’s $3.96 billion, representing just about 7.2% of Ethereum’s scale. Related Reading: Eclipse And Neon EVM Drive Solana-Ethereum Integration For Blockchain Interoperability Meanwhile, Ethereum does not come close to Solana in terms of market performance. Solana has seen quite outstanding growth in the past year, surging by over 500%. On the other hand, Ethereum has only seen a 66% surge over the same period. Featured image from Unsplash, Chart from TradingView

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Is Solana Preparing For Liftoff Or Meltdown? Analysts Forecast SOLs Future

After the recent market pump, Solana (SOL) recovered an important support zone. As a result, analysts have debated whether the altcoin is poised for a liftoff to a new all-time high (ATH) or about to face a meltdown. Related Reading Analysts Fear SOLs Top Is In After recovering the $160 support zone over a week [...]

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Is Solana Becoming The Preferred Choice For Ethereum Developers? SOLs Uptrend Suggests A Shift

Since trading firms like FTX collapsed in November 2022, the Solana blockchain has seen significant gains and regained investor confidence, with Ethereum developers increasingly migrating to it.  According to a recent analysis by Jack Inabinet, Senior Analyst at Bankless, with significant growth in key metrics and SOLs year-to-date increase of 770%, Solana has solidified its [...]

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Solana Multi-Year Uptrend Holds Strong Analyst Sees SOL Breaking ATH This Year

Solana is trading at a critical level as the broader crypto market consolidates below key resistance zones. After an impressive 90% surge since early April, SOL has experienced a modest pullback, sparking speculation that this may be the final dip before a significant move higher. While many assets are struggling to maintain momentum, Solana has shown remarkable strength and resilience, bolstering bullish expectations. Related Reading: Dogecoin Momentum Fades Analyst Expects $0.213 Retest Top analyst Cas Abbe shared a technical view suggesting that the long-term bullish structure for Solana remains firmly intact. According to Abbe, last months retest of the multi-year trendline marked a pivotal moment for the asset, reinforcing support and resetting sentiment for a potential continuation. Since the bounce from that level, SOL has continued to climb steadily, and many now believe that Solana is gearing up for another leg up. With fundamentals improving and historical patterns pointing to renewed upside, the market is watching closely. A successful reclaim of nearby resistance levels could be the trigger that drives Solana back toward its previous all-time highand potentially beyond. For now, SOL holders are eyeing this consolidation phase as the calm before the storm. Solana Holds Critical Support As Market Eyes Bullish Continuation Solana is testing a crucial demand zone around the $165 level, attempting to establish a foundation for its next major move. This range has become a key battleground between bulls and bears, especially as broader market sentiment is shaped by Bitcoins struggle to push past its all-time high. With BTC stalling just below $109K, uncertainty clouds the outlook for many altcoins, including SOL. However, Solana continues to show signs of relative strength. Despite recent pullbacks, the overall trend for Solana remains bullish. According to Abbe, the assets multi-year uptrend remains intact. Last month, Solana successfully retested its long-term trendline, which Abbe believes marked the bottom of the recent correction. Since that bounce, SOL has surged over 50%, demonstrating strong investor confidence and solid underlying momentum. Abbe maintains that the $290 high seen earlier was not the final peak for Solana, projecting a new all-time high sometime in 2025. His bullish thesis is supported by improving fundamentals across the Solana ecosystem, including rising developer activity, growing DeFi participation, and increasing on-chain usage. Related Reading: Range-Bound Ethereum Sees Volatility High Timeframe Levels Hold The Key SOL Price Analysis: Holding The Line Before A Big Move Solana (SOL) is currently trading at $167.76 after a sharp rally in early May that pushed the price above both the 200-day EMA and 200-day SMA. The chart shows SOL climbing over 90% since its April low, confirming bullish momentum and renewed interest across the market. However, the price is now stalling just below the 200-day SMA at $181.03, which is acting as dynamic resistance. The key support lies near the 200-day EMA at $162.55. As long as SOL holds this level, the short-term structure remains bullish. A clean break above the $181 level would open the door for a move toward the psychological $200 mark and potentially higher. But if bears regain control and price breaks below $160, the uptrend could be in jeopardy. Related Reading: Chainlink Struggles At Key Resistance Level $10 Support Back In Focus Volume has decreased slightly since the early May breakout, hinting at possible exhaustion or consolidation before another leg. Traders are closely watching for confirmation either a breakout above $181 or a breakdown below the EMA. Featured image from Dall-E, chart from TradingView

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Solana Takes The Crown: CoinGecko Ranks It The Best, Leaving Ethereum Behind In Key Metric

The race to achieve the fastest blockchain transaction processing speeds is heating up, Solana (SOL) is in the spotlight as a new report from crypto data aggregator CoinGecko reveals some surprising findings.  The study analyzes the real-world transaction per second (TPS) performance of a range of large blockchain networks, both Ethereum-based and non-Ethereum (ETH) Virtual [...]

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SOL Price Breaks Crucial $150 Level Amid Robinhoods Solana Staking Debut In Europe

Robinhood Crypto has announced the introduction of a Solana-staking product in Europe, accompanied by a bonus program for new customers.  This development comes as the company faces increased tensions with US regulators, which could potentially lead to legal repercussions. However, the move has propelled Solana’s (SOL) price to surpass the crucial $150 level, indicating a return of bullish momentum in the market. Solana Staking And Crypto Rewards According to the announcement, Robinhood unveiled new features for its European customers. These offerings include staking, localized applications, and crypto rewards.  As part of its expansion, Robinhood has launched its first crypto-staking product exclusively for European customers. Through the platform, users can stake their Solana holdings and earn rewards with the ability to unstake their assets at any time.  Additionally, new customers can receive a 10% bonus on their net purchases during their first 30 days on the platform, with the bonus paid out in Circle’s USDC stablecoin. This initiative aims to attract new users and improve their crypto investing experience. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week While Robinhood Crypto expands its offerings in Europe, the company faces regulatory challenges in the United States. The US Securities and Exchange Commission (SEC) has issued a Wells Notice to the exchange, indicating the staff’s recommendation for an enforcement action against the platform.  Robinhood expressed disappointment in the SEC’s decision, emphasizing their efforts to seek regulatory clarity and asserting their belief that the listed assets on their platform are not securities. Vlad Tenev, the CEO of Robinhood, revealed that the company has held over 16 meetings with the SEC. However, these interactions have been largely unsatisfactory, according to Tenev. He expressed the company’s willingness to engage with the SEC in good faith but noted the regulatory body’s lack of reciprocal efforts. SOL Bulls Eye $200 As Trading Volume Rises Solana’s native token, SOL, experienced a significant rebound in the past hour, surging from the $140 zone to its current trading price of $153. This price movement holds key significance for bullish investors as they aim to retest the $200 mark previously surpassed in March.  CoinGecko data further reveals a notable increase in SOL’s trading volume, reaching $2.7 billion in the last 24 hours, representing a 6.6% rise compared to the previous Monday’s trading session. Related Reading: Floki Inu Moment Of Glory: Analysts Forecast Explosive 200% Rally According to crypto analyst Jesse Olson, Solana has shown strength in its recent price action. Olson notes that Solana successfully hit all four downside targets and exhibited bullish divergence, followed by hitting three upside targets.  The price appears to form a higher low, increasing the probability of reaching target four, projected at the $175 mark. Despite the bullish momentum, SOL faces crucial resistance walls at $157 and $172, which are expected to be significant obstacles toward higher price levels.  On the other hand, the $140 line has served as a key support level for Solana’s price over the past week. SOL’s bullish momentum remains uncertain as it strives to overcome these resistance levels and retest its yearly high of $209. Featured image from Shutterstock, chart from TradingView.com

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Solana Network Activity Grows As 11M Wallets Now Hold 0.1 SOL Or More Analyst

Solana has rallied more than 22% since last Thursday, riding the wave of renewed bullish momentum across the broader crypto market. As Bitcoin pushes toward all-time highs and Ethereum breaks key resistance levels, Solana has followed suit with impressive strength. The price surged to a local high of $181 before encountering resistance, where it now consolidates just below that mark, searching for support to fuel the next leg higher. Related Reading: Ethereum Hits Major Level After Biggest Weekly Candle In Years What Comes Next? While price action cools at a pivotal level, on-chain data shows significant growth in Solanas user base. According to Glassnode, the number of wallets holding 0.1 SOL or more has surged to 11.04 million in the past two weeks. This rapid increase in smallholder wallets points to a rising wave of adoption and network participation, particularly as interest in altcoins intensifies. Solanas consolidation just under $181 may act as a healthy pause before a continuation if bullish momentum persists. With the market heating up and retail interest returning, the current price structure could offer the foundation for a strong breakout in the coming sessions. The combination of price performance and rising user engagement suggests Solana may be positioning for a larger role in the next phase of the bull cycle. Solana Holds Key Support As Wallet Growth Signals Optimism Solana is now facing a crucial test as it consolidates just below the $181 resistance zone. After a sharp 22% rally over the past week, bulls must defend current levels to validate the uptrend and sustain momentum. Holding above the $170$175 support range would confirm strength and could pave the way for a renewed push toward the $200 level. However, the path forward isnt without risk. The broader macroeconomic environment remains fragile, with persistent fears of a global slowdown and continued uncertainty around inflation and interest rate policy. Despite these headwinds, the crypto market is staging a powerful recovery, and Solana is among the top performers. This rally may be more than just a short-term bounceit could mark the early stages of a larger bullish phase with significant upside potential. Investor sentiment is improving, and so is user engagement across key ecosystems. Top analyst Ali Martinez shared compelling on-chain data that reinforces this perspective. According to Glassnode, the number of wallets holding 0.1 SOL or more has surged to 11.04 million over the last two weeks. This rapid growth in smaller holders suggests growing retail interest and a widening user basecritical indicators for long-term strength. If bulls can maintain control at current levels and macro conditions dont worsen, Solana could be poised for a major move. The combination of technical momentum and on-chain engagement provides a strong foundation for the next leg higher. All eyes are now on whether the $181 resistance breaksor if Solana needs more time to build strength before the next phase of the rally begins. Related Reading: Ethereum Recovery Gains Strength: Massive Comeback Above Key Support Solana Faces Resistance As Price Pulls Back To Retest Support Solana (SOL) is consolidating just below the $181 level after a strong 22% rally from last week. As shown in the chart, price action surged above both the 200-day EMA ($161.88) and 200-day SMA ($181.11), signaling renewed bullish momentum. However, the current pullback from $180 to around $173.48 shows that the $181 level is acting as a key resistance, which has previously served as a rejection zone multiple times in the past. Volume remains healthy, and the recent move shows strong market participation, but bulls now need to hold the $170$172 range to maintain control. A successful retest of this area as support could set the stage for a breakout above $181. Failing to hold above this zone, however, could trigger a correction back to the $160$165 region, near the 200 EMA. Related Reading: HYPE Bulls Regain Control After Sharp Recovery Approaching Yearly Highs? Technically, SOL is attempting to break a multi-month downtrend and is forming a higher high structure for the first time since late December. The convergence of the moving averages suggests a pivotal moment. If buyers step in with conviction, a move toward $200 becomes likely. Until then, traders will closely watch the $181 level for a decisive breakout or rejection. Featured image from Dall-E, chart from TradingView

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Solana Rallies Into Pivotal Zone $180 Level Could Define Next Move

Solana is gaining momentum once again, with price action pushing above the $175 level for the first time in weeks. The move comes as crypto markets roar back to life, fueled by Bitcoins push above $100K and Ethereums explosive rally past $2,500. Solana has surged more than 20% in the past week alone, signaling strong demand and a renewed bullish outlook from traders and investors alike. Related Reading: XRP Whales Are Back 880 Million Tokens Accumulated This Month Top analyst Big Cheds shared a technical analysis revealing that Solana is now making a strong advance into a key spotthe underside of the daily 200 moving average (DMA). The asset is also approaching a lower high around the $180 mark, which previously acted as resistance during the last failed breakout attempt. Cheds notes that reclaiming this zone would be a significant win for bulls, potentially triggering a sharp continuation toward new highs. Market sentiment is turning optimistic across the board, and Solanas technical setup reflects that shift. As price approaches the 200DMA, all eyes are on whether SOL can hold this momentum and break through key levels to join the broader market rally. The coming days will be crucial for confirming a full trend reversal. Solana Approaches Pivotal Level As Bulls Eye Breakout Solana is showing renewed strength after a clean breakout above the $160 resistance zone, a level that had capped price action for several weeks. The surge has brought SOL into a critical region that could act as a pivot pointeither igniting a fresh bullish rally or marking a temporary top before a retrace. As global tensions between the US and China and broader macroeconomic uncertainties linger, the crypto market remains exposed to sudden sentiment shifts. However, recent price action in Solana, along with Bitcoin and Ethereum, suggests that investors are increasingly optimistic about a continued market recovery. Solanas current structure reflects that optimism. The asset is now testing the underside of its daily 200 moving average, a level often viewed by traders as a trend-defining indicator. A successful push above this moving average would add further confidence to the bullish thesis. At the same time, Solana is approaching a lower high near the $180 zone, where the price was previously rejected in March. Cheds points to this convergence as a crucial area: a breakout here could mark the beginning of a larger reversal pattern. Still, risks remain. A rejection at the $180 level could reinforce resistance and trigger a pullback toward the $160 support, especially if macro conditions worsen or profit-taking sets in. For now, however, bulls appear to be in control, and the technical landscape supports a potential continuationif momentum holds. Related Reading: Bitcoin 4H Chart Shows Bullish Consolidation Classic Continuation? Technical Levels: Price Action Shows Strength Solana (SOL) is exhibiting strong momentum as it trades at $176.41, advancing toward a crucial resistance area around the $180 level. The daily chart shows that SOL has surged rapidly from April lows, breaking above both the 200-day EMA ($161.67) and approaching the 200-day SMA ($181.10), a key area that could determine the next major trend. This zone acted as support and resistance multiple times in the past, particularly during Q4 2024 and early 2025. Now, as price returns to this range, it becomes a potential pivot point. If bulls can sustain pressure and close above $181.10 with volume confirmation, it may trigger a continuation toward $200 and possibly retest February highs above $260. However, failure to break above this range could prompt a rejection and consolidation below the 200 SMA. Related Reading: Bitcoin Whale Entry Prices Diverge Sharply Confidence Builds At Higher Levels Volume has picked up significantly over the last few days, indicating rising interest and participation from traders. This is a constructive sign as Solana attempts to reclaim higher ground. For now, the trend remains bullish, but eyes are on the $180$185 resistance zone to confirm whether SOL has the strength to continue its breakout or faces a short-term pullback. Featured image from Dall-E, chart from TradingView

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Solana Faces Defining Level At $120 Will History Repeat?

Solana continues to face mounting selling pressure as it struggles to reclaim the $150 level, with broader market uncertainty weighing heavily on price action. Down nearly 60% from its all-time high, Solana reflects the weakness seen across the crypto sector, where fear and volatility have returned to dominate investor sentiment. As macroeconomic instability and risk-off behavior persist, bulls have been unable to regain control, and confidence remains shaky. Related Reading: Dogecoin Faces Make-Or-Break Support Level Will DOGE Hold? Top crypto analyst Ali Martinez recently shared an important technical analysis, identifying $120 as a critical make-or-break zone for Solana. According to Martinez, this level has historically marked major shifts in SOLs price trajectory, often acting as the tipping point between recovery and further decline. With Solana now hovering dangerously close to this threshold, traders are watching closely to see whether it can hold or break. If $120 fails to act as support, it could trigger a deeper correction. On the flip side, holding this level could offer bulls a base to mount a potential comeback especially if market conditions stabilize. For now, Solana remains in a vulnerable position, and how it behaves around this key level may define its direction in the weeks ahead. Solana Holds Critical Demand As Global Trade War Tensions Grow Solana is trading at a critical demand zone as selling pressure intensifies across the crypto market, driven by escalating global tensions and trade war fears. On Liberation Day, US President Donald Trump announced sweeping new tariffs, sparking strong responses from major economies like China. The fallout has shaken investor confidence across all markets, including crypto, where risk assets are feeling the weight of heightened uncertainty and reduced appetite. Solana (SOL) has been especially vulnerable, with price action slipping toward key support levels. Analysts warn that if current demand fails to hold, the downtrend could accelerate. The next few days will be crucial, as continued weakness into next week could confirm a bearish breakdown. Many traders are already preparing for more downside if the market doesnt stabilize soon. Martinez recently highlighted the importance of the current support zone. According to his analysis, the $120 level is a decisive make-or-break point for Solana. This zone has historically marked major trend reversals and shifts in momentum. A failure to hold above it could lead to a deeper correction, while a bounce from this level could spark a recovery. With SOL already 60% down from its all-time highs, bulls are on the defensive. If they can defend $120, theres still hope for a reversal but losing it may signal that the broader bearish trend remains intact. In the days ahead, all eyes will be on Solanas ability to hold the line as macro pressure continues to shape the crypto markets direction. Related Reading: Massive Chainlink Demand Wall At $6.26 As 90K Investors Buy 376M LINK Key Weekly Support Faces Breakdown Risk Solana is currently trading at $120, on track to record its lowest weekly close since February 2024. After weeks of selling pressure and repeated rejections below the $150 level, bulls are running out of time to defend key support. The inability to reclaim $150 a major resistance zone has kept SOL trapped in a bearish structure, with momentum firmly in favor of the bears. For any hopes of a recovery rally to take shape, Solana must reclaim $150 in the coming days. That level remains the gateway to higher demand zones and a shift in short-term trend. However, if price action continues to weaken and $120 fails to hold, the next logical target is much lower around the weekly 200-day MA and EMA, both converging near $95. Related Reading: Ethereum Whales Buy the Dip Over 130K ETH Added In A Single Day This would represent a critical breakdown and likely trigger additional downside pressure, particularly if broader market conditions remain fragile. With macroeconomic uncertainty and trade war tensions weighing heavily on sentiment, Solanas position looks increasingly vulnerable. Unless bulls step in soon, SOL could be facing a deeper retracement as it tests long-term support zones not seen since late 2023. Featured image from Dall-E, chart from TradingView

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