Solana (SOL) is now facing a big challenge. After many weeks of falling prices and a lot of uncertainty in the crypto market, things are finally starting to change. SOL had lost more than 47% of its value since early March, but now, buyers are coming back. This is a good sign, but there are still some important hurdles to cross.
For almost two months, Solana was under strong selling pressure. Its price dropped from its highest point to below $100 — a level not seen since the end of 2023. But now, Solana is rising again and trying to break a key resistance level (a point where the price usually struggles to go higher). If it can break this level, the recovery might continue. If not, it could fall again.
A well-known analyst, Ted Pillows, said on X (formerly Twitter) that Solana is now 60% lower than its peak. This means many sellers may have already given up — something called “capitulation,” which often happens before a price goes up again. He thinks Solana is now retesting that important resistance line, and the next few days will be crucial.
Can Solana Break Through?
After hitting a low of $95, Solana has bounced back more than 25% since Monday. This happened at the same time as the whole crypto market started to recover. One reason for the bounce was a big news event — U.S. President Donald Trump announced a 90-day pause on some tariffs, except for China, which now faces even higher tariffs.
Pillows also shared a chart showing Solana is again testing its resistance level. If buyers (the bulls) can push SOL above $130 and it stays there for a day, this could be the start of a new upward trend.
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