Solana Technical Analysis: 3 APR 2025
Solana’s weekly supports under immense selling pressure. Source: TradingView
General View
Sellers are attempting to take control by pushing for a breakdown of the weekly support zone. If this critical level gives way, it will open the door for a new lower range, exposing Solana to deeper declines. However, all is not lost for the bulls, as a bullish falling wedge is forming. If buyers step in with strength, Solana could still mount a recovery and negate the emerging pressure.
On The Upside
Price is approaching key support levels, which could trigger short-covering rounds. Solana faces initial resistance between $115 and $118, where selling pressure may emerge. These levels will act as hurdles for the bulls, but a break above this zone could fuel another push towards $124.50, strengthening the bullish outlook.
On The Downside
If the weekly support fails to hold, bearish momentum will intensify, opening the next major support range between $95 to $100. A deeper breakdown could extend the decline toward $82–$85, where the next significant weekly demand zone is positioned. Meanwhile, for the session, there are still intra-day supports at $110 and $105 levels.
Price moving towards the wedge’s descending supports. Source: TradingView
