Solana price analysis shows SOL has held above the key psychological level of $122 despite the wild market swings and is set for a recovery with a nice bounce above the 200-day Simple Moving Average (SMA) to $136.59 which is 3.22% up. This bounce shows strong buyers at lower levels which can be a good base for future up moves.
Solana started the week weakly and touched $122 but quickly rebounded showing strong buying interest. On Tuesday SOL price went above the 200-day SMA and closed at $136.59 which is 3.22% up. Yesterday it tested $140 but faced resistance and settled back around $136.
As of now Solana price is $137.05 with a trading volume of $1,425,649,197 in the last 24 hours which is a lot of activity. The daily gain of 0.17% shows a balanced action between supply and demand.
The Moving Average Convergence Divergence (MACD) is bullish with the MACD line (blue) above the signal line (orange) and the histogram is growing which aligns with the recent up move and the break above the 200-day SMA.
The Relative Strength Index (RSI) is at 57.22, meaning SOL is not overbought or oversold and has room to move in either direction without any immediate pressure from overvaluation. If SOL can hold above $136 it can try to go above the recent high of $140.
But if SOL closes below $122 it will invalidate this bullish outlook and create a new low on the daily chart. That can push Solana's price down by 5% and target the weekly support of $115.83 as shown in the chart and volume.
Solana’s next move in the market depends heavily on holding key support levels and navigating the volatility. Investors should watch these technicals closely as they will play a big role in deciding SOL’s price direction in the coming days.