Solana Technical Analysis: 1 APR 2025
Solana is starting to react to the weekly supports once again. Source: TradingView
General View
Solana is showing signs of strength after forming a bullish checkmate pattern near the key support zone. Price action suggests that sellers have lost momentum, with SOL consolidating within a range before initiating an upward push. The ability to hold above the support zone increases the likelihood of a trend reversal. If buyers maintain control, the potential for a breakout towards key resistance levels becomes increasingly favorable.
On The Upside
SOL is currently approaching its first major resistance at $135. A successful break above this level would open the door for further gains toward $145, the neckline resistance from the higher timeframe chart. Bulls would need very strong volumes and momentum to initiate a sustainable breakout from the neckline resistance.
On The Downside
SOL has established strong support between $115 and $120, an area where buyers have actively defended price dips. This level remains critical for maintaining the bullish structure. If the price retraces, this support zone needs to hold to prevent a deeper pullback. Meanwhile, for the session there are fresh intra-day supports now at $127 to $126 levels.
Bullish checkmate pattern on Solana. Source: TradingView
