The crypto market is still very volatile, as the combined capitalization dropped by 0.6% to $2.66 trillion. Solana (SOL) crypto, along with other top cryptocurrencies, experienced a mild drawdown.
Solana crypto is now pursuing stability as bulls fight to maintain the psychologically important level around $125.
This level comes after being rejected a few times over the past 24 hours.
The $125 SOL Resistance and Support Zones
Data from the market shows that Solana crypto traded at $128.57 at the time of writing.
The price is down 1.58% from the previous day. Solana’s price action over the past month showed mild relative prospects for growth.
With the sell-off pressure still visible, Solana formed an immediate pivot point at $125 with a near resistance zone at $128.
These resistance levels challenge its price to break through and continue its upward momentum. If the bearish pressure prevails, Solana price might see support around $124.7.
Despite the recent decline, the SOL altcoin has shown resilience over the past month, posting a gain of 1.23%.
Its 24-hour trading volume has also surged by 6.9%, reaching $3.4 billion. This surge suggested that investors were still interested in accumulating the coin.
Solana’s recent performance has drawn considerable attention in the crypto community.
Last week, a Solana whale purchased 32,000 SOL valued at $3.72 million. The purchase was not the first with this whale.
Hence, their behavior suggested the whale believes Solana’s price will recover and surge past the $216 mark, where they accumulated the most coins.
Why the Analyst is Bullish on Solana Crypto
Crypto analyst Curb on X has expressed bullish sentiments for Solana, pointing at key factors that support his perspective.
Firstly, he noted that Solana crypto price has broken out of a four-month downtrend. According to Curb, it is a good sign that Solana is on a bullish path.
He further highlighted that the price of Solana has broken past the Ichimoku Cloud, a key indicator of trend direction.
That marks a huge milestone for SOL as it is the first time the cloud has turned green since SOL traded at $250.
Curb also noted that Solana has reclaimed the $120 weekly OB support. Considering these bullish signals, the analyst is optimistic that SOL could hit over $420 soon.
SOL Price Prediction
Solana’s recent actions have raised speculation about the coin’s future. One analyst said Solana crypto could rally toward $150 if it maintains this critical area above $120 and increases market activity.
This important market zone has previously triggered price rebounds. Thus, it became an essential monitoring point for market participants.
Others claim SOL could rally to $200 before the end of 2025. With Solana’s operations expanding across the crypto sector, the future for the blockchain looks optimistic.
Notably, the rebranding of the Pump.Fun platform could fuel an increase in the price of SOL. Pump.Fun recently restored its livestream feature to its platform.
It had initially suspended this service five months ago due to some community misuse.
Besides, Raydium has launched its memecoin launchpad in a bid to compete with Pump.Fun. These outfits can draw demand to SOL, fueling price trends.
Whether Solana crypto can maintain its upward trajectory or face a correction will depend on its ability to break key resistance levels or hold critical support zones.
