HomePrice PredictionsSOL AnalysisSolana at a Crossroads: $130 Bounce or $120 Breakdown?

Solana at a Crossroads: $130 Bounce or $120 Breakdown?

Date:

Solana Technical Analysis: 21 MAR 2025

SOL Technical Analysis

Solana’s short-term established range levels. Source: TradingView

General View

Solana (SOL) has been consolidating within a defined range, with price currently testing the mid-range level of around $126. This area has previously acted as both support and resistance, making it a key battleground for bulls and bears. If buyers can hold this level and absorb selling pressure, SOL could attempt another push higher. However, failure to hold could trigger a deeper retracement toward the lower support levels.

On the Upside

A successful defense of the mid-range level at $126 would set up a potential move towards the next resistance at $130.87 (mid-mid point), which has been a notable reaction zone in the past. If bullish momentum sustains, SOL could target the range high near $136, where strong resistance awaits. A breakout above this region would indicate renewed bullish strength, possibly leading to further upside expansion.

On the Downside

If SOL fails to hold the mid-range level, the next area of interest is around $120.76 (mid-mid point), which aligns with previous reaction lows. A break below this would expose the lower boundary of the range near $116, a significant demand zone.

SOL Technical Analysis

Solana testing the trendline resistance of the downward channel. Source: TradingView

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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