As the cryptocurrency market experiences a strong bullish reversal over the past 24 hours, the tokens such as Bitcoin, Ethereum, and XRP display a similar action by witnessing a notable price surge. Following this, the Solana price has also regained momentum by adding over 3% during this time frame.
Moreover, on-chain activities and whale movements has displayed a sharp rise today. With this news in the air, questions like “How high will Solana go?” have taken over the internet by storm. Are you one of many, who are looking for the same?
In this write-up, we will uncover the market sentiments and technical analysis of Solana price for the rest of the week.
SOL Price Retests Its Major Support Zone!
With a 24-hour trading volume of $6.235 billion, the Solana price is currently exchanging hands at $113.36. Notably, this altcoin has formed a descending channel pattern in the daily time frame and continues trading within it since March 2025. However, there is a strong support zone around the $110 mark, indicating a potential bullish reversal at that point.
The Relative Strength Index (RSI) fails to breach its neutral point in the daily time frame. This has resulted in it recording a bearish reversal with a high possibility of a negative convergence with its average trendline.
On the other hand, the SMA indicator is on the path of experiencing a positive crossover in the Solana price chart. This suggests a rising uncertainty for the altcoin in the cryptocurrency space.
Will Solana Go Back Up?
A sustained bullish action could push the price of Solana toward its immediate price target of $127 this week. Maintaining a bullish sentiment could result in it heading toward its upper price target of $145 during the upcoming time.
Conversely, if the bears outrun the bulls, the SOL coin price could drop to $110. Furthermore, if the bearish sentiment intensifies, the 7th largest cryptocurrency could plunge toward its crucial low of $100 within a short period.
Also Read: Solana’s New ZK Feature Hides Token Transfer Details
