Solana Technical Analysis: 14 MAR 2025
Solana is in an ascending triangle pattern. Source: TradingView
General View
Solana, after dropping to its lowest levels in months, is finally starting to show some promising signs. The price is now starting to recover as part of a correction phase. Meanwhile, the price is in an ascending triangle formation, indicating a bullish momentum. Now, if Solana reclaims its immediate resistance, this corrective phase could aim for 50% to 61.8% Fibonacci retracements.
On the Upside
Solana faces immediate resistance from the $129.80 level, which aligns with the previous support-turned-resistance zone. This resistance between $129.80 to $132 is likely to be a challenge zone for the day. If bulls succeed in reclaiming this level, Solana could then head for the intra-day resistance at the $139.90 level with room for further squeeze higher. Expect the price to face strong profit-takings at each resistance level.
On the Downside
The ascending trendline support is currently providing immediate support for Solana at the $122.25 level. As long as bulls can hold this support, the short-term momentum will remain in favor of the bulls; however, losing this supportive level would open lower support retests at the $120 and $115.50 levels. These supports are key zones where intra-day action could start, paving the way back toward the above resistances.
Solana’s ongoing downward trend. Source: TradingView
