Solana is trading around $126.53, based on historical data for that date. The market is showing signs of weakening as SOL ($129.56) pulls back from earlier highs, but fundamental strength in its ecosystem continues to support long-term potential.

For on-demand analysis of any cryptocurrency, join our Telegram channel.

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.

For on-demand analysis of any cryptocurrency, join our Telegram channel.