HomePrice PredictionsSOLSolana Battles for Survival at $113: Can Bulls Push to $124.50?

Solana Battles for Survival at $113: Can Bulls Push to $124.50?

Date:

Solana Technical Analysis: 3 APR 2025

SOL Technical Analysis

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.

SOL Technical Analysis

Price moving towards the wedge’s descending supports. 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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