Last Title: "Why Pi Network Could Still Reach $5 Despite Market Pressure and Token Unlocks"
Solana (SOL), one of the most dynamic cryptocurrencies in recent months, has been showing signs of strength climbing steadily and outperforming several top assets in the crypto market. After a notable rally that brought the price near the crucial $144 resistance level, investors and traders are now asking the big question: Is a breakout imminent, or are we due for a short-term cool-down?
Let’s dive into the technicals, on-chain data, and market sentiment to understand what’s really going on with SOL and what might come next.
🚨 $144: The Resistance Wall That’s Slowing Down Solana
Over the past week, SOL has seen consistent upward momentum, reaching a recent high of $139.79. However, just as it approached the $144 level a known resistance zone selling pressure started to build.
This isn’t just any price point. According to trading volume data, the $144 area is packed with previous market activity, making it a psychological and technical barrier. Historically, these zones often act as supply traps, where earlier investors might cash out.
"Curious about crypto mining? Want to try it out or even invest in it? Click now and explore my dedicated crypto mining page!"
The TD Sequential Indicator has also flashed a warning sign. On the 12-hour chart, a green “9” candle has appeared a classic signal that suggests a temporary trend reversal or sideways consolidation could be on the horizon.
Renowned analyst Ali Martinez shared this insight, noting that we might be entering a cooling phase before the next potential leg up. The price remains supported by an ascending trendline on the 4-hour chart, keeping the broader bullish trend intact. But traders are watching closely any sign of weakness here could lead to a retracement.
🔍 The $129 Safety Net: Key Support Holds for Now
While $144 is the major resistance, the real line of defense sits at $129.
According to Glassnode’s UTXO Realized Price Distribution (URPD) tool, many investors accumulated SOL around the $129 level. This creates a dense area of support where buyers are likely to re-enter the market if the price starts to dip.
If Solana does correct from current levels, the $129–$132 range could act as a buffer. However, breaking below $129 might open the door for a sharper drop toward the $120 region. This could trigger stop-loss orders and liquidations, intensifying selling momentum.
"Are you afraid of investing in cryptocurrencies? Visit my website and claim free crypto from faucets just by clicking! "
So far, though, SOL has held this level impressively. Coupled with continued buying by large holders including a notable $5 million institutional investment from Janover confidence in the token’s longer-term strength remains firm.
📈 The Bullish Case: What Happens If $144 Breaks?
Here’s where things get exciting.
If SOL can pierce through the $144 resistance with strong volume, there's very little historical trading activity until the $170 mark. That’s right based on URPD data, the $144–$170 corridor is relatively thin in terms of seller presence.
What does that mean for you?
-
Less selling pressure = faster price movement
-
Momentum traders are likely to jump in
-
Sentiment could flip bullish across the board
If this breakout happens, we may see a swift rally toward $170 as both retail and institutional investors capitalize on the breakout window.
🧭 What Should Traders Watch Now?
Here are the 3 key levels to monitor closely:
-
$144 Resistance: Watch for a breakout or rejection
-
$129 Support: The line that must hold to avoid a deeper pullback
-
$170 Target: If $144 breaks, this becomes the next realistic destination
Volume confirmation is also crucial breakouts without volume are often false. Look for a surge in trading activity as a signal of true market intent.
✅ Final Thoughts: A Healthy Pause or a Launchpad?
Solana’s current price action might feel like a pause, but that’s not necessarily a bad thing. Markets often take a breather before major moves. Whether SOL dips slightly to consolidate or blasts through $144, it’s clear the asset is at a pivotal point.
One thing is certain: SOL is on the radar of serious investors. With solid support, strong fundamentals, and rising institutional interest, the next few days could shape Solana’s price action for the rest of the month.
Keep your eyes peeled and your alerts on.
As I celebrate my 55th birthday, I'm excited to share an incredible opportunity with you! Join me in embracing the future of finance by investing in my token ($CC55). Let’s make this April a time of prosperity and success together!
Stay Informed
Follow our blog for the latest news, updates, airdrops, and other ways to earn crypto assets easily and often for free. If you find this information useful and would like to receive more updates, you can support the project with a small contribution, allowing us to continue providing valuable information to all crypto enthusiasts.
Bitcoin: bc1q20zx0j2fmmk9jca49hanrk2gl3hgqtysuy6fsv
Ethereum: 0x2132aa994E6b0cb0Bc86074Cb75624FAC71b8548
Doge: DJb9299NMr8kWfqNLwZkbaV7P5kgEANHWB
Solana: CMNBYVJi3Z8axYnu44YKpHhsyrKc3ZtszcznaYEguhSA
Follow Us on Social Media
Facebook: https://www.facebook.com/CriptoCanadas/
Instagram: https://www.instagram.com/cryptocanadas/
Bluesky: https://bsky.app/profile/cryptocanadas.bsky.social
Tangled: https://cryptocanadas.tangled.com/join
No comments:
Post a Comment