Solana continues to maintain a sideways trend in the trading session on 12/30, reflecting a subdued market sentiment throughout the past week.
At the time of reporting, SOL is trading around the $125 level. Notably, liquidity in the last 24 hours has seen a significant increase, indicating that capital is starting to flow back, fueling hopes for more notable volatility in the near future.
Rising from support levels to stabilize SOL’s price
The daily chart of Solana shows a clear recovery after the price successfully tested a key support zone around $119. Notably, this area has previously served as an important reversal point multiple times, as the price has consistently respected the $119 mark over the last four trading sessions.
Daily SOL/USDT chart | Source: TradingView
From a technical structure perspective, maintaining stability above this support level could open up considerable upside potential, with the next target around $145 — representing a potential increase of approximately 13.8%.
In terms of indicators, the Average Directional Index (ADX) is at 25.62, approaching the critical 25 threshold, indicating that the current trend is gradually strengthening and a clear upward momentum may be forming. However, the Chaikin Money Flow (CMF) remains in negative territory at -0.13, reflecting selling pressure still dominates and buying volume has not yet gained strength at current price levels.
Although technical signals are somewhat mixed, cryptocurrency analysts on the X platform remain quite optimistic. Some experts forecast SOL could break out to $144, while more positive views expect the price to approach $147. There are even opinions suggesting Solana could surpass the $150 mark in the coming days if the recovery momentum continues.
Excessive leverage among traders
In a market still holding bullish prospects, day traders continue to show a cautious, somewhat pessimistic stance.
According to the latest data, at the time of writing, the $122.2 support level is considered strong, while the $130.4 resistance is notable. At these two levels, traders have established significant leveraged positions, with $114.12 million in long positions and $149.74 million in short positions.
Source: CoinGlass
This data clearly reflects market sentiment: short-term traders are betting on a downward trend, doubting that SOL can break above the $130.4 level in the near future.
SN_Nour
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana Shanghai Builder Station Delays Offline Launch Ceremony Originally Scheduled for March 20
The opening ceremony of Solana Shanghai Builder Station was originally scheduled for March 20 but has been postponed due to venue and scheduling reasons. Going forward, the event format will be adjusted to host more intimate salons and technical sharing sessions. Registered users will retain their eligibility and receive priority access.
GateNews1h ago
Brave Introduces Cross-Chain Swaps for Bitcoin, Solana, Zcash, and Cardano Supported by NEAR Intents
Brave Wallet v1.88 added NEAR Intents, enabling cross-chain swaps across Bitcoin, Solana, Zcash, Cardano, and EVM networks.
NEAR Intents has processed over 19 million swaps and more than $14 billion in volume across 35 chains before this wallet integration.
Brave has added NEAR Intents to it
CryptoNewsFlash4h ago
Mastercard Includes Solana in Global Crypto Program, Will SOL Price Face a Key Breakthrough?
Mastercard launches a global crypto partnership program, integrating over 80 crypto and fintech companies to drive the convergence of digital assets and traditional finance. Solana, as one of the participants, shares development collaboration with PayPal and others. Related technologies have begun transitioning from pilot to application, such as Kazakhstan's launch of a Solana-based stablecoin payment. Mastercard hopes to narrow the gap with Visa, while Solana's price fluctuates within key ranges, with market attention focused on its application prospects and ecosystem implementation.
GateNews5h ago
Multicoin Co-founder: Must Decentralization Be Slower Than Centralization? PropAMM Is Breaking This Bias
Kyle Samani published a long post on X platform discussing Solana's PropAMM, emphasizing its potential to surpass traditional centralized trading models in efficiency. He pointed out that by directly hosting market-making algorithms on the blockchain, PropAMM can achieve lower-latency price updates. Despite facing some challenges, the upcoming Solana upgrade will significantly enhance PropAMM performance and is expected to become the dominant on-chain trading model.
PANews6h ago
What Is Solana’s Alpenglow Upgrade? New Consensus Could Deliver 150ms Transaction Finality
Solana’s next major protocol overhaul is edging closer to reality, and developers say it could dramatically reduce transaction confirmation times while simplifying the network’s core mechanics.
Solana’s Alpenglow Upgrade Targets Near-Instant Finality and Simpler Consensus
Solana developers
Coinpedia7h ago
X Platform Mistaken Account Ban Issue Resolved, 99% of Accounts Restored
X platform product leader Nikita Bier responded to user account suspension issues, stating that due to errors in the new spam filtering system, some normal accounts were mistakenly flagged as spam accounts, with approximately 99% restored. The platform will continue to increase investment and upgrades to its anti-spam tools.
GateNews9h ago
