Solana (SOL) is showing early signs of a potential rebound after retesting critical support levels near $150, according to a recent analysis by a leading market analyst. The token is currently trading near $157, reflecting cautious optimism after weeks of downward pressure.
Technical Analyst Highlights “Promising” Setup
A prominent market analyst noted that Solana “took the lows” and is now attempting to reclaim previously lost ground. The current setup, while still developing, appears technically favorable for bullish continuation if key levels are reclaimed.
“The price action looks very promising. A successful reclaim here could drive strong upside momentum,” the analyst stated.
Critical Consolidation Range in Focus
Over the past several weeks, Solana traded within a horizontal range between $150 and $190. A recent breakdown below this range has now turned into a potential fake-out, provided that bulls can maintain upward pressure.
The $150–$155 zone is emerging as a crucial demand region, historically known for triggering aggressive rallies. The latest bounce near $148 coincides with past liquidity zones, suggesting that institutional buyers may be stepping in.
Resistance Zones and Bullish Targets Identified
If Solana manages to reclaim and consolidate above the $155–$160 level, analysts expect the next major resistance around $175–$180. A clean break and daily close above $180 could indicate a confirmed trend reversal.
Such a move would likely open the path for a retest of $200 or higher, a level not seen since early April. This potential breakout could bring back stronger market participation and restore short-term bullish sentiment.
Conclusion: Key Levels to Watch for Solana Bulls
Solana’s near-term trend hinges on its ability to hold and reclaim $150–$155 as support. A sustained move above $175 would validate bullish momentum and offer upside potential beyond $200.
Traders and investors are closely monitoring these zones as Solana shows signs of strength following a multi-week downtrend.