Solana Price Moves Up: Potential Strengthening or Correction in April 2025?

Jakarta, Pintu News – The price movement of Solana SOL->Current SOL PriceRp 0Market Cap-Trading Volume-Circulating Supply- is back in the spotlight in the cryptocurrency market after successfully bouncing off an important support level in the range of Rp1.69 million ($100 equivalent). This strengthening occurred amid the positive trend that Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- and Ethereum ETH->Current ETH PriceRp 0Market Cap-Trading Volume-Circulating Supply- have also experienced in recent times.

SOL showed strength by successfully crossing some initial resistance levels, which were around IDR1.78 million ($105 equivalent) and IDR1.90 million ($112 equivalent). Currently, SOL price is trading above IDR1.78 million and above the 100-hour simple moving average (SMA), a positive indication for crypto traders.

Resistance level becomes a barrier to Solana price strengthening

However, Solana’s price movement is facing new challenges as it approaches an important resistance level at around IDR2.03 million ($120 equivalent). Previously, SOL had printed a daily high at this level, but has not been able to break through convincingly.

The next resistance level that is considered important is around IDR2.11 million (equivalent to $125). If SOL manages to close trading above this level, then the opportunity for further strengthening towards IDR2.24 million (equivalent to $132) to IDR2.37 million (equivalent to $140) will be increasingly open. However, for now, the resistance area of IDR2.03 million is still the main challenge for price movement.

Also Read: Solana’s Whale Movement and Selling Pressure: What is the Impact on Crucial Support Levels?

Price Correction Risk Still Lurks for Solana

On the other hand, if the Solana price fails to cross the resistance at IDR2.03 million, then there is a risk of a price correction in the near future. Initial support that could be an area of price bounce is around Rp1.90 million (equivalent to $112). However, if selling pressure increases, the next support is around Rp1.86 million (equivalent to $110).

In fact, in the event of a deeper drop, the Solana price could potentially test the strong support level of IDR1.78 million (equivalent to $105) again. A drop below this level could bring the SOL price closer to IDR1.69 million ($100 equivalent), which is the psychological support for cryptocurrency market participants.

Technical Indicators Depict the State of the Mix

Technically, the Moving Average Convergence Divergence (MACD) indicator on the hourly chart for the SOL/USD pair shows a weakening momentum in the bullish zone. This signals that the buying strength is starting to decline although it is yet to show a strong sell signal.

Meanwhile, the Relative Strength Index (RSI) indicator is still above the 50 level. This shows that the crypto market sentiment towards Solana is still relatively positive, albeit with a cautious tendency.

Upside Opportunities Remain Open, but Beware of Selling Pressure

In general, the price of Solana (SOL) is currently in a consolidation phase between the support level of IDR 1.78 million and the resistance of IDR 2.03 million. If it manages to break through the main resistance, the opportunity for further strengthening is very open, it can even go to IDR2.37 million in the short term.

However, if the selling pressure increases and the price drops below the key support levels again, then a deeper correction scenario cannot be discounted. Crypto investors and traders are advised to remain vigilant, while keeping a close eye on the price movements at the mentioned support and resistance areas.

Conclusion

The price movement of Solana (SOL) in recent times has shown interesting dynamics in the cryptocurrency ecosystem. Although there is an opportunity for an increase if it is able to break the resistance level, the threat of correction also remains open. This condition shows the importance of technical analysis and careful risk management for investors in dealing with crypto price volatility such as Solana.

Also Read: Rounded Bottom Pattern in XRP Price: Recovery Signal or Correction Threat?

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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. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Aayush Jindal/NewsBTC. Solana (SOL) Price Jumps 10%, Can Bulls Clear $120? Accessed April 11, 2025.
• Featured Image: DL News