🔎 Analysis of Solana (SOL/USDT) — Has the recovery from the decline begun?
The Solana (SOL) cryptocurrency has recently seen a decline from the peak recorded at 206.30 USDT down to a strong support level at 146.78 USDT, but today it is bouncing back again, currently trading at 172.00 USDT, an increase of +5.05% over the last 24 hours.
🔸 Key technical indicators:
Highest price in the last 24 hours: 173.49
Lowest price in the last 24 hours: 163.11
Moving averages:
MA(7): 165.27 → Broken upwards (bullish signal)
MA(25): 176.67 → Currently considered resistance
MA(99): 162.07 → Clear bounce from it, reinforcing the likelihood of continued upward movement
✅ Suggested buying point:
If the price re-tests 165 – 168 USDT with a slight corrective decline, and a positive reversal candle appears on the hourly timeframe, this will be an excellent buying opportunity.
🛑 Suggested selling point (or profit taking):
The first strong resistance area at 176.50 – 179 USDT (intersection with MA25)
If this level is broken, the next target will be 183 – 186 USDT
⚠️ Important warnings:
If the price breaks the level of 162 USDT, it may re-test the main support at 156 – 153 USDT
Momentum indicators indicate the beginning of a recovery, but we need confirmation with a clear break above 176.5
📌 Summary:
Solana is showing positive technical signals in the short term after bouncing from strong support, and the likelihood of targeting higher levels increases if the break above the average is confirmed. However, caution is necessary, especially in resistance areas.
