Check out the latest information in Spanish.
Solana has faced a massive 23% correction since hitting a new all-time high about three weeks ago. While significant, this decline reflects broader market conditions, with Bitcoin and altcoins entering a phase of indecision. The market is currently consolidating below key levels in search of support, and investors are closely monitoring whether this phase leads to a recovery or further decline.
Related books
Top analyst Jere recently shared his technical analysis on X and suggested that Solana has promising upside potential. If Solana can regain the $222 level within the next few days, it will likely trigger a rapid and significant rally, Jere said. This key price point is a critical threshold that could change sentiment and reignite bullish momentum in the popular altcoin.
Although the overall market remains uncertain, Solana's ability to recover and build momentum above $222 could set the stage for a definitive breakout. However, failure to recover this level could prolong its stabilization or lead to further retracement. Solana remains a hot asset, with retail and institutional investors awaiting clearer signals on its next direction. Will it regain its bullish trajectory or face continued selling pressure? We will get the answer in the coming days.
Solana finds support in former resistance
Solana is retracing to test a key liquidity level between $200 and $210, an area that previously acted as resistance but is now being evaluated as support. This zone is critical to SOL's price action as it could determine whether the asset continues its bullish momentum or faces further consolidation.
Related books
Solana price action is in a consolidation phase with no final direction, but signs of a potential breakout are becoming evident. The asset looks poised to make a decisive move, especially if it regains significant levels in the coming sessions.
Analyst Jere recently shared his insights on X and highlighted the importance of the $222 level. Jelle said, “Recovering $222 would quickly put SOL back in the spotlight, breaking off those lows and sending it higher.” A successful recovery suggests it could re-enter price discovery, trigger a massive breakout, and attract renewed attention from retail and institutional investors.
Solana holds major support at $203 | Source: Jelle on X
If Solana achieves this, it could set the stage for a bull market that reflects its previous impressive performance and reaffirms its position as one of the top-performing altcoins on the market. On the other hand, if the support range of $200-$210 cannot be sustained, it could lead to further consolidation or a deeper correction. Solana remains a market focus, and investors are eagerly awaiting its next move.
Testing critical demands for SOL
Solana (SOL) is trading at $220, showing resilience after hitting the $203 level twice over the past week. This area proved to be a strong support zone as buyers stepped in to prevent further declines. Prices are currently hovering near an important crossroads, with market participants closely monitoring the next big move.
If SOL is able to break above the $203 support and reclaim the $238 resistance area, a rapid recovery could continue and pave the way for a new bullish trend. A return to $238 would show strength and attract fresh buying interest, pushing SOL back into a higher trading range.
Key Demands for SOL Test | Source: SOLUSDT Chart on TradingViewv
However, this recovery may take time as the entire crypto market is in a state of indecision. Bitcoin and other major altcoins are also trending sideways, adding to the uncertainty surrounding Solana's near-term price trend. SOL is likely to remain range-bound until a breakout or breakout occurs.
Related books
Traders and investors should closely monitor these important levels. A sustained break above $238 could reignite bullish momentum, but failure to sustain support at $203 could lead to a deeper correction. For now, patience is needed for Solana to navigate this important phase in price action.
Featured image from Dall-E, chart from TradingView
