Solana Drops 4.97% but Shows Recovery—Can $SOL Break $136.03 Resistance?

Current Price Value of Solana ($SOL)

As of the latest update, Solana ($SOL) is trading at $128.90, marking a 4.97% drop in the last 24 hours. This decline follows a series of price fluctuations that have shown slight increases, suggesting that the cryptocurrency is attempting to recover from its downturn.

$SOL Statistical Analysis

Here is a summary of Solana’s current statistics:

• Market Cap: $65,796,639,561.23
• 24-Hour Volume: $2,595,324,650.04
• Total Supply: 596,338,883.94 SOL
• Circulating Supply: 509,925,501.42 SOL

Solana ($SOL) Price Analysis

Solana began the day with a price of $135.3 but experienced a sharp decline shortly after. Despite brief upticks, the price has now settled at $128.90. This represents a decrease of 4.97% in the past 24 hours. However, recent movements indicate some recovery, with Solana bouncing back from a low of $125.38 to its current price.

The market sentiment remains bearish, but the recent upward momentum gives hope for a potential rebound. The crypto is currently battling the resistance at the $136.03 level, and surpassing this barrier could lead to more significant price gains.

$SOL Support and Resistance Levels

Solana’s price is currently facing resistance at key levels that are crucial for determining its short-term price movements:

• Immediate Resistance: $136.03
• Second Resistance: $152.77
• Third Resistance: $178.63

On the downside, Solana has several support levels that may prevent further declines:

• Immediate Support: $125.38
• Second Support: $113.18
• Third Support: $110.6

Price Prediction for Solana ($SOL)

Despite the bearish momentum in the market, Solana has shown signs of upward movement. The key resistance level at $136.03 remains a crucial barrier. If Solana can break through this resistance, it may see a 10.49% increase, potentially reaching $139.66 within the next 30 days. Investors and traders will need to closely monitor the price action at this resistance level to assess the likelihood of further gains.

Conclusion: Solana’s Outlook and Key Levels to Watch

Solana ($SOL) has been on a downward trend over the past 24 hours, showing a 4.97% decline. However, the cryptocurrency is making attempts to recover, and key support and resistance levels will play a pivotal role in its near-term price action. Breaking past the $136.03 resistance could signal a 10.49% price increase, offering a glimmer of hope for a potential bullish reversal. Traders and investors should keep an eye on Solana’s performance over the next few days for further insights.