HomePrice PredictionsSOLSolana's Weekly Support Under Threat: Can $114 Be Reclaimed?

Solana’s Weekly Support Under Threat: Can $114 Be Reclaimed?

Date:

Solana Technical Analysis: 7 APR 2025

SOL Technical Analysis

Solana weekly supports are likely to be breached. Source: TradingView

General View

The weekly support zone between $114 and $120 is now under threat, as Solana closed below this critical level, raising concerns of a deeper correction. This zone had acted as a strong base in previous weeks, but the recent breakdown suggests that sellers are gaining temporary control. However, all is not lost, as Solana is currently trading within a well-defined falling wedge. A bullish divergence is clearly forming between price and RSI, indicating that bearish momentum could fade if bulls reclaim a major resistance.

On The Upside

To regain short-term bullish momentum, Solana must reclaim the $115 to $120 weekly support zone. A break back into this range and successful consolidation above it would be needed to negate the bearish developments. There are additional intra-day resistances now for Solana at $110 and $112 levels.

On The Downside

If Solana fails to reclaim the broken support zone, the next key level to watch is the short-term support near $98.60. A breakdown below that area opens the door for a drop toward the next weekly support level between $80 and $82. However, sellers need to be cautious, as Solana’s oscillating indicators are currently in extremely oversold levels.

SOL Technical Analysis

Solana is about to test the support levels of the descending pattern. Source: TradingView

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Usman Ali
Usman Ali
A writer and market analyst with expertise in cryptocurrencies. He focuses on delivering clear, insightful, and well-structured content, emphasizing advanced trading strategies and in-depth market analysis. His writing style prioritizes clarity and professionalism, ensuring that complex market trends are easy to understand. He is keen on keeping his work organized, direct, and valuable for his audience.

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