- Maintaining-price levels between $140-$150 stands as the key measure to stop Solana from falling to $110-$120.
- Excessive selling activity might prove challenging for Solana to maintain its current market values.
- The persistence of support should lead to short-term growth which would take Solana from $175-$190 and potentially reach $200-$220.
Solana ($SOL) is currently defending a crucial weekly support level, despite broader market uncertainty and Bitcoin’s downward movement. The cryptocurrency, which has experienced strong growth in recent months, is now facing a key test as it attempts to hold its ground while other major assets decline. The ability to maintain this support level could be a significant indicator of future price action.
Key Support and Resistance Levels
The support zone which Solana holds between $140-$150 works as an essential foundation according to the long-term trendline. The price zone served as a resilient point which facilitated multiple past price rebounds. The previous challenges for Solana occurred at $265-$275 but these resistance levels have proven difficult to overcome. Failure to sustain current price levels will push the market value towards the $110-$120 consolidation zone.
Market Catalysts and Price Implications
One major event impacting Solana’s price is a large token unlock scheduled for the weekend. Historically, token unlocks increase selling pressure as newly released tokens become available to investors. Currently,Solana price is trading at $139.54 showing a 0.5% surge with a 24-hour trading volume of $ 12.88B. SOL market cap is $ 68.18B, and market dominance of 2.38%.
If Solana holds its current level through this period, a relief bounce towards $175-$190 could be expected in the short term. However, a breakdown below $140 could send prices lower, potentially testing the $112-$120 range.
Solana Future Predictions
A rise in market sentiment alongside maintained Solana support could trigger a brief price rise beyond $175 before attempting to recover levels of $200 to $220 during the upcoming weeks.
A continued Bitcoin market decline will make it harder for Solana to regain its upward momentum thus raising the risk of price decreases.The upcoming price movement depends on market reaction to the unlock event together with buyer interventions to maintain support at this level.
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