Hello everyone,
Solana (SOL) is showing encouraging signs of recovery after a notable correction. Currently trading around $185.9, SOL has bounced from the 190–200 USD region, leaving behind a Fair Value Gap (FVG) just above. This suggests the market is rebalancing after a sell-off, with buying pressure quietly returning. The FVG near 187–190 USD now acts as short-term resistance, while the 182–184 USD area — where a smaller FVG has formed — serves as key support. If price holds above 184 USD, SOL is likely to retest 190 USD, and a sustained push could open the way toward 197–200 USD — a strong resistance zone previously dominated by sellers. Conversely, a close below 182 USD could send SOL back toward 176–178 USD, a level that previously attracted strong buying volume.
On the macro side, market sentiment is gradually improving. Following the latest FOMC meeting, the Fed decided to keep rates unchanged — a move that keeps the US dollar moderately strong but not restrictive for risk assets. Meanwhile, capital is flowing back into the crypto space, particularly altcoins, amid speculation that the SEC may extend ETF approvals to Layer-1 tokens like Solana — a development reportedly under review by both CoinDesk and Bloomberg. This narrative has provided psychological support for short-term bullish sentiment.
Technically, the base scenario favours a rebound as long as SOL sustains above 184 USD, targeting 190–197 USD, and potentially extending toward 205–210 USD if buying momentum persists.
The current structure shows higher lows forming — an early sign that buyers are gradually regaining control. Still, this remains a sensitive phase, and long positions should be tightly managed with stop-losses below 181 USD to avoid sudden shakeouts. A decisive H4 close above 190 USD would mark the beginning of a clearer bullish reversal in the short term.
Liquidity is returning, structure is shifting — and the market seems to be whispering a new story. Could this be the start of Solana’s next rally?