Solana is trading around $126.53, based on historical data for that date. The market is showing signs of weakening as SOL pulls back from earlier highs, but fundamental strength in its ecosystem continues to support long-term potential.
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Solana Next Target
- Price: $126.53
- 24-Hour Trading Volume: 12.56 million SOL
- Total Supply:600 million
Price is in a downtrend, however, it’s trading in a Channel Down pattern, which typically resolves in a bullish breakout and a trend reversal. We wait for such a breakout.
Meanwhile, price is approaching $125 support, which also lines up with Channel suipport trendlines and price is getting oversold (RSI ¬ 30). Hence, price could bounce up from here back to Channel resistance of $160.
On the positive note, Solana Spot ETFs have launched with decent inflows ($200M in first week) and there have been several Solana-focused Treasury companies buying SOL.
Key Indicators & Market Signals
- Support Zone: Around $120–$125 — this area may act as a base.
- Resistance Zone: Near $135–$140 — clearing this could stabilize a recovery.
- On-chain activity remains decent, as Solana continues to be used for DeFi, gaming, and staking.
- However, momentum is weak, and without a strong catalyst, SOL may continue consolidating or face further downside.
Latest News & Sentiment
- Some analysts point to token unlock events as a potential headwind, with new supply possibly putting pressure on price.
- Others highlight the steady growth of Solana-based projects in gaming and DeFi, suggesting long-term demand remains solid.
- There is growing interest from institutional players, but volatility remains a near-term risk given uncertain macro conditions.
Summary
Solana trades at $126.53, with support around $120–$125 and resistance near $135–$140. A break above resistance could reignite upside, but weakness below support may lead to further corrections. Despite short-term volatility, SOL’s strong ecosystem and on-chain usage support its long-term growth narrative.
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