Analysts Predict Solana’s (SOL) Big Movement, Key Support Level Still Held!

Jakarta, Pintu News – Solana (SOL) is currently in a critical phase, with analysts assessing the likelihood of its next big move.

The cryptocurrency has been moving in a clear range, with key support levels remaining strong despite recent market volatility.

Some traders expect potential gains, while others warn about further declines if the support level fails.

Check out the full analysis here!

Solana (SOL) Price Fluctuations: Between Support and Resistance

In a recent analysis by Crypto Jobs, the price of Solana (SOL) fluctuated between $153 and $138, signaling a period of uncertainty in the crypto market. The strong support zone between $118 and $125 has repeatedly prevented further declines.

If this level continues to hold, the price of Solana (SOL) may try to rise again. On the other hand, the $153 to $155 range acts as a resistance zone. If broken, it could trigger an increase towards $180 to $185, where Solana (SOL) previously experienced selling pressure.

However, if the cryptocurrency fails to reclaim those levels, it may continue to consolidate within the current range or test lower support.

Also read: Ahead of Crypto Summit, World Liberty Financial Scoops BTC and ETH as Prices Fall!

Potential Downside Risk Below Key Support Levels

Although Solana (SOL) prices have shown resilience above $125, analysts warn that a break below $115 could result in deeper selling.

Crypto Jobs pointed out that a weekly candle close below this level would likely pressure the price into the $80 to $75 range, an area that hasn’t been tested in recent months.

Another analyst, TB21Crypto, identified $126 as a critical level in line with the 0.236 Fibonacci retracement. If Solana (SOL) price loses this support, it could trigger a stronger bearish trend.

Market conditions, liquidity levels, and broader crypto market sentiment will determine whether the Solana (SOL) price can maintain its current range.

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Technical Indicators Show Bullish Signs

The Bull Bear Power (BBP) indicator shows a potential shift from bearish to bullish sentiment. Previously in the negative region, indicating bearish dominance, it has started to rise towards the zero line.

This transition suggests that the bears are losing control, and the bulls may soon take over, potentially leading to a price increase. In addition, the Relative Strength Index (RSI) for Solana (SOL) price also supports the growing bullish momentum.

Recently hovering around 50, which is generally considered a neutral point, the RSI is now moving upwards. This trajectory indicates an increase in buying pressure, which could help sustain the bullish trend if the RSI continues to rise.

Conclusion

Despite the short-term uncertainty, some analysts remain optimistic about Solana’s (SOL) long-term price potential. Marzell, a well-known trader, predicts a potential price increase of 45% from the $120 support level, with upside targets to $296, $339, and $384. His analysis is based on historical price movements and technical indicators, suggesting that Solana (SOL) could enter a strong uptrend.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Analysts Predict Solana Price Next Big Move as Key Support Holds. Accessed on March 7, 2025
• Featured Image: Reddit