Key Takeaways
- The price of Solana (SOL) crashed from a region of $295 to a low of $95, recording over 35% crash as the price shows bullish strength.
- SOL’s price on the 4HR timeframe suggests strong bullish price action as it trades above 50-day and 200-day EMAs.
- SOL price breaking above $200 with strong volume could see market sentiment for bullrun gain more traction.
The price of Solana (SOL) has begun to show great signs of rebound in the last few days after the news of the U.S. tariff pause. The price, which has fallen by over 35% from its high of $295, creating a new all-time high, crashed towards a low of $95, as speculation suggested the price would be headed to $80.
Around $95, the price of Solana (SOL) saw a remarkable price bounce, reclaiming its price around $120 in the past few days and trading above $130. Despite a strong bounce to the upside, the price of Solana (SOL) still faces resistance at its high of $140 to $150, as a break and close above this zone could see the price rally towards $180 to $200.
Solana’s (SOL) Potential For this Week
Source – SOL 4HR Price Chart And Potential From TradingView
Following its price decline in previous weeks towards a key liquidity zone of $95 to $80, the price of SOL bounced off this zone beautifully on the 4HR chart, creating higher highs and indicating a short-term price change to the upside. Price rallied above $120, the key area of interest, into $130, with price attempting to break above its resistance of $140.
The price of Solana (SOL) reclaiming its market sentiment above its 50-day and 200-day EMAs, acting as support for the price, could boost its price into a potential breakout above $150, as the price could see a rally towards $180 and $200.
Is Solana (SOL) A Buy Or Sell?
Solana’s price broke out above $120; the price of Solana (SOL) looks strong on the daily timeframe as the price of SOL could attempt a retest of $123 to $120, where the price could activate pending buy orders to the upside.
A retest followed by strong upward price action for SOL’s price could see its price rally towards its key swing high, acting as resistance in the region of $180 and a potential $200. If this buying opportunity for SOL continues towards $220, we could see an aggressive push for SOL to a high of $260, acting as psychological resistance for a price before hitting its new all-time high.
Solana’s (SOL) price action is a short-term buy opportunity towards the key resistance of the $140 to $150 zone in the coming days.
