Solana ($SOL ) is currently trading at $147.25, a price that reflects both resilience and hesitation. After soaring to a peak of $295.83, it faced a strong correction, sliding down and finding support around $128.14. The chart now shows the early signs of a potential rebound, but it’s still in recovery mode rather than full breakout territory.
The weekly candles show that SOL is trying to stabilize after weeks of bearish pressure, especially noticeable with the large red candles that followed its peak. Volume over the past 30 days is up 18.25%, suggesting that buyers are gradually returning, though it’s still below the levels seen during its major bull run earlier this year. The 90-day performance remains weak at -35.69%, but the 1-year return of 9% hints that the broader trend is still alive, even if battered.
SOL is now dancing near the short-term moving averages, which are slightly flat. That could mean consolidation, but if price can close above the $150-$160 resistance area, we might see it build momentum again. A clean breakout above $188 would then be the next critical step toward testing the $249 and eventually $295 highs again. If, however, it fails to hold above the current range, we could see another retest of the $128 or even $100 support zone.
For now, Solana looks like it’s regrouping—consolidating before a decision point. Whether it reignites its uptrend or dips for a deeper retest depends heavily on market sentiment and volume confirmation in the coming weeks.
