Solana (SOL) is demonstrating resilience amid broader market weakness as volatility impacts crypto assets. Following a sharp retrace alongside Bitcoin and Ethereum, Solana is stabilizing above key demand levels, which has sparked cautious optimism among investors. Many are viewing this zone as a potential launchpad for a price increase, especially as the market seeks to recover and regain bullish momentum.
Despite recent uncertainty, sentiment around Solana remains constructive. Analysts highlight strong structural support and a history of sharp rebounds from similar technical setups. Top crypto analyst Ali Martinez recently noted a key signal that has garnered traders' attention: the TD Sequential indicator has flashed a buy signal for Solana on the daily timeframe. Historically, this signal has preceded significant price rallies, particularly when it coincides with strong support zones.
With Solana maintaining its position and broader sentiment gradually improving, bulls are closely monitoring for a push into higher supply zones. If confirmed, a breakout from this range could propel SOL toward new short-term highs. The upcoming days will be crucial in determining whether Solana can sustain this momentum and lead the next altcoin rally.
Solana is currently testing a critical support zone near $145 after losing more than 20% of its value since late May. This correction has brought SOL into a key demand area, where bulls appear to be defending the level robustly. Despite attempts to reclaim $160, the altcoin has encountered persistent resistance, with declining momentum and rising macro risks complicating short-term price action. Market-wide conditions have not aided the situation either, as both Bitcoin and Ethereum have stalled below key resistance zones.
This hesitation has heightened uncertainty, with some analysts suggesting a deeper retracement in SOL if market leaders continue to decline. However, others remain hopeful that Solana could soon reverse its fortunes. Analyst Martinez has reported a key signal for Solana, with the TD Sequential indicator printing a buy signal on the daily chart. Historically, this indicator has been a reliable precursor to significant local bottoms and bullish reversals, particularly when observed near strong support levels.
Currently, Solana's ability to hold above $145 is crucial. A bounce from this level, combined with improving sentiment across large-cap assets, could trigger a new push toward $160 and beyond. If confirmed, such a move would indicate that SOL is regaining strength and is prepared to retest higher resistance levels in the coming weeks.
Solana (SOL) is trading at $148.44 after attempting a modest rebound from its recent local low near $145. The daily chart reveals that SOL has lost momentum since peaking above $180 in late May, marking a 20% correction. The price is now just above the 100-day moving average (144.68), a key technical level that previously acted as support during consolidation phases.
The 50-day and 34-day moving averages are trending downward, with the 50-day SMA around $159.33 and the 34-day EMA near $159.35, both serving as dynamic resistance. Meanwhile, the 200-day SMA remains higher at $177.49, emphasizing the presence of a strong overhead supply zone between $160 and $180. Despite the bearish pressure, volume has remained relatively muted during the recent drop, indicating that panic selling has not yet taken over.
If SOL manages to stay above the $144–$145 region, it could form a base for a rebound, especially if broader market sentiment improves. A daily close back above the 34-EMA could pave the way for a recovery toward $160. Conversely, a breakdown below $144 could lead to further downside toward the March lows. For now, SOL is at a technical crossroads, with short-term direction dependent on the upcoming price action.
