Solana (SOL) is showing fresh signs of strength after bouncing back from the $120 support level. Over the past month, the altcoin has gained 8.9%, including a 6.3% rise in the last seven days, suggesting growing bullish momentum.
According to Coinpedia Markets, Solana is currently trading at $140.22. The nearest resistance is at $142, with a stronger barrier expected around $145.
SOL dropped to $95.19 on April 7, but the decline was quickly met with strong buying interest. By April 11, the token had recovered above $120, which has since turned into a key support zone. The price rebound has been supported by encouraging technical indicators.
Solana is now trading above the 100-day Simple Moving Average (SMA), currently at $136.85. This level has flipped into support, strengthening the bullish case. A rising trendline on the hourly chart also suggests ongoing upward pressure, with additional support seen between $137 and $138.50.
Technical Indicators Support the Uptrend
On the daily chart, the Relative Strength Index (RSI) is at 58.89, indicating a gradual build-up in buying strength. The MACD is also trending higher, further confirming the positive outlook.
Despite the strong recovery, crypto analyst Ali has flagged a short-term bearish signal using the TD Sequential indicator on the 12-hour chart. The indicator has flashed a “sell” signal, suggesting the possibility of a brief pullback before the next leg higher.
If Solana falls below the $137 support level, it could test the $132 range. However, if buyers manage to break through the $145 resistance and hold above $150, SOL could target $155 next, and potentially $165 in the near term.
SOL’s bounce from $120 might just be the reset bulls needed to aim higher in the days ahead.
According to our Solana price prediction, the altcoin might chug up to a maximum of $400 by 2025.
With a potential surge, the price of SOL could reach a maximum of $1,351 by 2030.
As per our latest SOL price analysis, the Solana could reach a maximum price of $11,698.
By 2050, a single Solana price could go as high as $72,459.
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