Solana Trading at $132, Must Break Above $135 for Recovery
Solana (SOL) is at a crucial price point around $132, facing significant resistance that could dictate its short-term direction. After losing 55% of its value since January's all-time high, the cryptocurrency is influenced by broader market corrections and rising macroeconomic tensions, particularly trade conflicts between the U.S. and China.
Key points include:
- Bulls need to reclaim the $132–$135 range to confirm short-term momentum and initiate a potential recovery rally.
- A decisive push above $150 is necessary to establish a higher high and shift the downtrend structure.
- Failure to hold the $125 support level may lead to further declines towards $100 or lower.
- Technical analysis from Crypto Seth indicates a bullish flip on the 8-hour chart if SOL breaks key resistance, possibly signaling a trend shift.
Market volatility remains high due to geopolitical uncertainties, impacting investor sentiment toward digital assets like Solana. Traders are closely monitoring the $135 level, as a breakout here could enhance bullish prospects.
