Solana ( $SOL ) eyes rebound as Parabolic SAR flashes a bullish signal near a key support zone. Learn more than SOL with our latest analysis.
Solana’s SOL has slipped below $135, but signs of life are already showing on the charts. This recent 20% drop might have shaken weak hands, but technical signals suggest buyers are returning. Despite the price dip, network strength remains firm. That’s not something you see every day. Traders watching closely can spot the pressure building beneath the surface. Solana may be getting ready to launch from this level. Here’s why that bounce might not take long.
Strong Demand Despite Price Pressure
Solana briefly touched $130, yet the network still processes nearly 3,800 transactions per second. That’s only a 13% drop from 4,370 TPS recorded on June 12. Even with lower prices, usage hasn’t fallen off a cliff. This shows that network demand remains steady, a good sign for recovery. When price and network strength move in opposite directions, that’s usually a sign of undervaluation.
Solana continues to attract users, even during this downtrend. The selloff may have outpaced fundamentals. These moments often offer strong setups for a reversal. On the 4-hour chart, Solana price now sits above $136. That level just became more important. This is where the Parabolic SAR dots flipped and moved below the candles. That shift often hints at a trend change.
Caution Still Lingers Below Support
The Bollinger Band midline also rests near $136. Holding above this level could draw in fresh buyers. Add in a bullish MACD signal, and momentum starts to tilt in favor of the bulls. The MACD signal line is beginning to curve upward. That early move can be the start of a stronger swing. If the price closes above $140, short-term traders may target $147 next. This upper Bollinger Band level may offer resistance. But with enough volume, Solana could push through and aim for $155.
That would be a 15% jump from current levels. While signs look encouraging, traders should remain cautious. If Solana loses the $136 level again, sellers might regain control. A dip back to $130 could follow quickly. That level acted as a demand zone over the weekend. Still, network metrics offer comfort. Transaction volume has held up well. That strength limits downside risk and gives buyers a reason to keep defending current support zones.
As long as demand for blockspace stays firm, Solana has a reason to rebound. Unlike many other altcoins, usage on the chain hasn’t dried up during this dip. That sets the stage for a possible short-term rally. Solana might be nearing a turnaround. Parabolic SAR and MACD both point to shifting momentum.
Steady network demand adds real strength behind the price. If bulls defend $136, upside targets at $147 and $155 remain in play. Keep watch—this bounce may only be getting started.
