Solana (SOL) is showing early signs of recovery after weeks of selling pressure. The cryptocurrency recently dropped to $118 before bouncing back, with analysts watching key resistance and support levels.
TD Sequential Indicates a Buy Zone
Ali Charts analyzed Solana’s price action against the U.S. Dollar on a 4-day timespan. The trend has remained bearish, with the latest candlestick closing at $137.62, marking a 5.91% decline. A TD Sequential indicator flashed a red '9' above the latest candlestick, often a sign of trend exhaustion. For a breakout, SOL needs to move past resistance at $142.50 and $158.
Potential Rebound and Key Resistance Levels
According to Panzuki.eth's analysis, Solana’s price action against Tether (USDT) on the daily time frame reveals key trends. The latest candlestick closed at $137.36, reflecting a 3.38% increase. Resistance levels to watch are $140, $180, $210, and $262.
Buyer Activity Near $130–140 Levels
The recent price trend of Solana showed a decline from February into early March, reaching a low of $118 before bouncing. A green support zone between $130–$140 suggests strong buying interest. If support at $130 fails, further losses could follow.
Solana shows signs of correction after significant decline. Overcoming key resistance levels might confirm a trend reversal, but close observation of support at $130–140 remains crucial.
