Solana’s Weekly Price Surge: Is This a Sign of Recovery in Mid-April 2025?

Jakarta, Pintu News – The crypto market is always full of unexpected dynamics, and Solana SOL->Current SOL PriceRp 0Market Cap-Trading Volume-Circulating Supply- has recently shown price volatility that caught the attention of many market participants. From last week’s low of $95.26, Solana (SOL) has surged all the way to $130. This 36% price increase certainly brings new hope to investors who have been waiting for a price recovery.

Technical Analysis and Potential Recovery

Although Solana (SOL) has shown a significant price increase in the past week, technical analysis on higher timeframes still shows a bearish trend. However, the increase in the number of active addresses along with the price spike suggests a possible change in trend.

The 7-day moving average shows that the downward trend of the past few months may be starting to reverse. In early March, when Solana (SOL) was trading at $144, the 7-day moving average of active addresses had already surpassed the previous high. This signaled that there was increased activity that could support a price recovery.

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Speculation and Trading Activity

The nearly 40% price surge in the past week has fueled high speculative trading activity. Open interest has increased by almost $1.5 billion since April 8. Currently, open interest is higher than in March, signaling a potential bullish turn.

However, be aware that this price increase could also be an opportunity for holders to sell their assets. The percentage of unique addresses whose purchase price is below the current market price suggests that many holders might use this price spike to exit at breakeven.

Bearish Trend and Price Support

The 3-day chart shows a bearish trend with the creation of lower highs and lower lows since January. The $143 level is the most recent lower high, and Solana (SOL) has not approached this level yet. If Solana (SOL) can cross this level, it could be a signal for traders and investors to change their bias to bullish.

Meanwhile, the support levels at $99 and $85 become the next price targets, as long as the market structure remains bearish. This shows that despite the price spike, a full recovery still requires more confirmation from the market.

Conclusion: Solana’s Recovery Hope

Despite some positive signals from recent market activity, it is too early to declare that Solana (SOL) will fully recover to prices above $143. Investors and traders should remain vigilant and watch for further market indicators before making any major investment decisions. Recent price spikes may provide some optimism, but crypto markets are always full of uncertainties.

Read More: Pepe Coin (PEPE) Price Movement and Potential Golden Cross: What Does It Mean for the Crypto Market?

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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

• AMB Crypto. Will Solana’s weekly price jump lead to a recovery above $143?. Accessed on April 14, 2025
• Featured Image: Crypto Rank