The cryptocurrency Solana has recorded significant growth, surpassing the $125 mark, attracting investor attention and potentially impacting the overall market trend.
Strong Growth After 47% Drop
Solana is recovering from a 47% drop since early March, showcasing a 40% rise in recent days. The anticipation of stability in the crypto market, including Bitcoin, has supported this movement. The rise was also spurred by the suspension of tariffs on imports from the U.S., favorably impacting risk assets like Solana.
Critical Level at $146
Currently, Solana is trading at around $128, with the market's focus shifting to the next key resistance at $146. Breaking through this level could confirm a bullish structure and lead to a potential rally. However, there are risks to consider, particularly with the possibility of a decline if the price cannot hold above $125.
Outlook and Risks for Solana
To validate its current upward momentum, Solana needs to maintain the $125 level and break the resistance at $146. Given the unstable macroeconomic environment, Solana's ability to hold this support will be a decisive factor in determining whether this trend marks the start of a lasting recovery or a temporary spike.
While Solana's recent surge raises hopes for a sustainable rebound, the coming days will determine if the cryptocurrency can maintain its upward trend and overcome critical resistance.
