The Solana price has shown encouraging signs of recovery, climbing 6% on 
Friday to approach the $126 mark. This uptick follows a concerning dip below 
the crucial $120 level, which had sparked fears of a potential downtrend that 
could drag the cryptocurrency down toward the $100 threshold. Solana Price 
Gains Ground Chris MacDonald, an analyst at The Motley Fool, recently 
highlighted two key factors contributing to Solana&#8217;s resurgence. One 
significant catalyst is a proactive initiative by the Solana Foundation. 
Bitcoinist reported earlier this week that the organization is currently 
assessing whether its network can withstand potential threats from quantum 
computing technologies. Related Reading: Bitwise’s 2026 Crypto Forecast: 
Bitcoin, Ethereum, And Solana Poised For New Record Highs In collaboration 
with Project Eleven, a security firm specializing in post-quantum 
cryptography, the Solana team has launched a quantum-resistant testnet 
following a comprehensive threat assessment. The second notable factor driving 
the Solana price uptick is the announcement from health and wellness company 
Mangoceuticals, which revealed plans to allocate $100 million toward acquiring 
and holding SOL. Despite the positive momentum, experts caution that Solana&#8217;s 
price is currently following a “clean corrective structure.” Moving Averages 
Signal Downtrend From a technical analysis perspective, the 50-day simple 
moving average (SMA) is situated around $143, significantly higher than the 
current trading range, while the 200-day SMA looms even further at 
approximately $170, suggesting a prevailing downtrend rather than a healthy 
consolidation phase. In the short term, the 20-day exponential moving average 
has also rolled over near $133 and has consistently rejected previous attempts 
at a bounce. Analysts note that until the Solana price can close above the 
low-$130s for an extended period, any rebounds will likely be seen merely as 
counter-trend movements. Immediate support lies just below current trading 
levels at the $125 mark, followed by critical levels in the $121–$120 range, 
and another demand zone around $110. A more significant downturn could push 
the price into the high $90s, with projections indicating a potential dip to 
around $80 if liquidations accelerate further, as NewsBTC reported on 
Thursday. Related Reading: Crypto Payments Firm MoonPay Set For $5 Billion 
Valuation With NYSE Owner’s Backing The market has already registered an 
eight-month low near $116.9. A decisive close beneath that level could likely 
drag the Solana price toward the psychologically significant $100 mark. On the 
upside, the Solana price could encounter initial resistance clustered in the 
$133–$138 range, with stronger resistance observed in higher levels between 
$144 and $147 that could prevent any new recoveries in the short-term. To 
facilitate further price recovery, the Solana price will need to clear that 
second group of resistance levels on a daily close, ideally supported by 
increased trading volume, to pave the way toward prices between $160 and $165. 
Featured image from DALL-E, chart from TradingView.com

Solana Price Approaches $130: What’s Behind The Recent Surge?

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After reaching a new multi-month low, Solana (SOL) is attempting to hold a key 
high-timeframe level as support ahead of week’s end. Some analysts have 
suggested that the altcoin is poised to bounce, but others warned that a 
potential rally could be short-lived. Related Reading: Bitcoin Mirrors Q1 2025 
Playbook, Is It Headed To $70,000 Before Year’s End? Solana To Tag Higher 
Levels Soon On Friday, Solana recovered from the latest drop and surged 7.7% 
toward the $125 area. The cryptocurrency fell nearly 9% on Thursday afternoon 
amid a broader market correction, sending its price to an eight-month low of 
$116. Amid the pullback, SOL’s price breached below a crucial high timeframe 
level, the around $120 mark, for the first time since April before recovering. 
Analyst Crypto Batman noted the altcoin “is not only at its major support 
level, the same one that has held price for the past 2 years.” In addition, 
the cryptocurrency is also forming a bullish divergence on the 3-day 
timeframe, “exactly like what we saw before the major bottom” at the start of 
Q2, the market observer added. To him, this suggests that Solana could bottom 
soon and see the start of a recovery rally to the macro range highs. However, 
another market observer affirmed that even if a retest of the higher levels is 
likely, “context matters here.” Analyst Crypto Scient highlighted that SOL’s 
price is currently at the range lows of its multi-year range, recording the 
first retest of this area after being rejected from the range highs. “One 
could argue SOL has been distributive for nearly two years now. That’s fair,” 
he explained, “[but] range lows rarely break on the first attempt.” Moreover, 
Scient pointed out that there’s significant liquidity left between the 
$175–$190 levels that “should get tagged at some point, even within a broader 
bearish environment.” As a result, the analyst considers that a “move higher 
to clean liquidity before any deeper downside would make far more sense.” 
December Close To Define SOL’s Fate? Analyst Rekt Capital affirmed that the 
$123 horizontal support remains the “defining level” that Solana must hold to 
prevent a major breakdown to multi-year lows. He detailed rebounds from this 
support have historically produced “outsized upside expansions,” with 140% and 
100% moves. However, each rebound from this level has been progressively 
weaker over time, with the most recent bounce only managing to rally 15%. This 
signals a “sharp deceleration in upside responsiveness at this level,” which 
is important to consider as the compression in rebound magnitude could affect 
SOL’s monthly close. According to the analysis, a monthly close above the 
macro support would keep Solana positioned for a weaker rally, but a close 
below $123 would substantially change the structure. The second case would 
suggest that distribution has already started and confirm “how much this 
support has weakened since the last meaningful rebound that produced a near 2x 
move earlier this year.” Related Reading: Did Crypto Investors Stop Believing 
In The Four-Year Cycle? Analyst Weighs In Moreover, it would begin to mirror 
SOL’s performance in early 2022, when a similar price action preceded “macro 
relief moves during the opening phase of the Bear Market, including the 
decisive breakdown that occurred at the turn of that year.” Ultimately, the 
analyst warned that it remains to be seen whether the altcoin can close 
December above this crucial level and rebound, or if a breakdown “accelerates 
distribution sooner rather than later.” As of this writing, Solana is trading 
at $126, a 3.4% decline in the weekly timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

Cryptocurrency price in ZAR