Despite the general turbulence in the crypto sphere, Solana (SOL) is demonstrating a remarkable resistance. Following a sharp decline paralleling Bitcoin and Ethereum, Solana has managed to maintain stability above pivotal demand levels. This stability is fuelling cautious hope among investors who are considering this as a potential springboard for an upward trajectory, particularly as the market aspires to recover and regain bullish momentum.
Despite recent fluctuations, the sentiment around Solana continues to be positive. Experts are highlighting the robust structural support and a track record of impressive rebounds from similar technical structures. Among these experts, renowned crypto analyst Ali Martinez recently disclosed a crucial signal that has piqued traders’ interest: the TD Sequential indicator for Solana on the daily timeframe has indicated a buy signal. Historically, this signal has been a forerunner to significant price surges, especially when it coincides with robust support zones.
With Solana standing strong and the broader sentiment progressively improving, market bulls are keenly monitoring for a push into higher supply zones. If validated, an escape from this range could propel SOL towards new short-term peaks. The forthcoming days will be decisive in determining whether Solana can maintain this momentum and spearhead the next altcoin rally.
After suffering a loss of over 20% of its value since late May, Solana is maintaining a crucial support zone near $145. This correction has brought SOL into a key demand area, where bulls appear to be defending the level robustly. Despite efforts to reclaim $160, the altcoin has faced consistent resistance, with fading momentum and escalating macro risks obscuring short-term price action.
Market-wide conditions have not been supportive either. Bitcoin and Ethereum have been stuck below key resistance zones, failing to ignite a broader rally in altcoins. This hesitation has magnified uncertainty, causing some analysts to predict a deeper retracement in SOL if market leaders continue to falter. However, others maintain optimism that Solana could soon shift the balance.
A significant signal for Solana has surfaced, with Martinez noting that the TD Sequential indicator displayed a buy signal on the daily chart. Historically, this indicator has been a trustworthy predictor of substantial local bottoms and bullish reversals, particularly when observed near robust support levels. With SOL recently undergoing a sell-off and now stabilizing, this signal highlights the increasing bullish potential.
For now, Solana’s potential to maintain above $145 will be crucial. A bounce from this level, together with improving sentiment across large-cap assets, could instigate a fresh push towards $160 and further. If confirmed, such a move would imply that SOL is regaining strength and ready to retest higher resistance levels in the coming weeks.
Solana (SOL) is currently trading at $148.44 after making a modest rebound from its recent local low near $145. The daily chart shows that SOL has lost momentum since peaking above $180 in late May, marking a 20% correction. Price is now holding 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 now trending downward, with the 50-day SMA around $159.33 and the 34-day EMA near $159.35 — both acting as dynamic resistance. Meanwhile, the 200-day SMA is higher at $177.49, reinforcing the existence of a potent overhead supply zone between $160 and $180.
Despite the bearish pressure, volume has remained relatively muted during the recent fall, indicating that panic selling hasn’t taken over yet. If SOL manages to hold above the $144–$145 region, this could form the 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. However, a breakdown below $144 could trigger further downside toward the March lows. For now, SOL remains at a technical crossroads, with short-term direction hinging on the next few candles.
