- SOL fights to defend its essential support zone of $130 as it seeks to recover its main resistance area between $150–$160.
- If SOL rises above $160 it might achieve $180 but a drop below $130 support may trigger a reduction to $110.
- The market reveals cautious optimism regarding SOL’s performance although traders require solid evidence of ongoing growth patterns to signal an inversion of market trends.
Solana (SOL) has regained its position above the 2024 range lows, a crucial technical level that traders have been monitoring. The recent price recovery by Solana does not eliminate the evidence that the market needs significant price gains before validating a lasting upward market shift. Solana trading data for this period shows $138.91 as the price with a 0.35% decrease from 24-hour ago and the trading range spanning between $136.21 to $144.94.
Solana Struggles to Rebound After Sharp Decline
During the recent period Solana’s market prices have experienced substantial decreases leading away from their former highs. SOL dropped drastically after achieving its peak near $200 which led it to fall beneath essential help zones. The price fell to the $125–$130 support area which had served as strong market barriers in the past.
Trading above its established range low indicates an effort to create a stable position. People await clarity about how well this price recovery will sustain beyond present temporary relief before a possible price decrease occurs. When prices successfully surpass the $150–$160 resistance level shareholders will have stronger evidence of a momentum change.
Solana Tests Key Support: Breakout or Reversal Ahead?
According to analyst Seth, Solana (SOL) is currently testing a key breakout level, with price action showing a retest of diagonal support. The existing support level might enable SOL to advance toward the $150–$160 resistance area. The price may start moving downwards toward $130 if support is not maintained because this area acted as a crucial support level during previous price dips.
The market maintains a cautious bullish outlook because a return to $140 price could strengthen bullish conditions. The price needs to sustain below $130 before starting a potential decline which could reach $110.
Solana shows signs of improvement by rising above previous range low points although this development still leaves doubt about total trend transformation. SOL needs to surpass $160 while maintaining it as support to resume an upward price trend. If the price fails to break through $125–$130 it might result in additional testing of these levels or descent toward $110.
Outlook and Key Levels to Watch
The price of Solana has the potential to climb to $180 and beyond if it breaches $150–$160 resistance and continues holding above $140. The continuing purchase activity along with rising investor confidence must maintain to drive prices upward.
Solana faces the risk of price descent to $110 if it encounters rejection at its current value or loses the essential $130 holding power. A more significant price drop may emerge if market-wide factors deteriorate to the point where the value continues its descent.
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