Solana (SOL): Is It Finally Recovering or Just Teasing Us?

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Ah, Solana… it seems to be waking up from its long slumber, but it still has to jump over a few hurdles before it can truly call it a comeback.

  • The price of SOL has managed to crawl back above $125, making it look like it’s actually trying to recover, at least for now.
  • Now, it’s hanging out above $130 and, surprise, surprise, the 100-hourly simple moving average doesn’t seem to mind.
  • A bullish trend line is forming around $130 on the hourly chart. It’s like the market’s way of saying, “Hey, maybe we’re not as doomed as we thought.” (Source: Kraken, because of course it’s Kraken.)
  • If Solana can muster up the courage to break through $135 and $140, we might just be in for a ride. But no promises, right?

Solana’s Awkward Attempt at a Recovery

After a spell of what can only be described as “disastrous,” Solana has decided to make a move. Climbing above $125 was its first step in what can only be called an “attempt” at recovery, much like how a person tries to stand after slipping on a banana peel. It’s shaky, but there’s hope!

The price took a stroll towards the 50% Fibonacci retracement level of the decline from $145 to $121. Which, let’s be honest, is probably the most excitement it’s seen in weeks.

On the hourly chart, there’s a bullish trend line, and that’s supposed to mean something positive. But let’s not get ahead of ourselves – if SOL can push past $135 and $140, maybe there’s light at the end of the tunnel. Or maybe it’s just a freight train. Who knows?

The $140 level is the next big challenge. And beyond that? Well, $145 could be the magic number. If it manages to close above $145, we might see a steady increase, or maybe just another awkward stumble. The next key target could be $155, but don’t get too excited. If it keeps going, we might hit $162. Or we might not.

Is Solana Headed for Another Heartbreaking Drop?

But hey, let’s be real for a second. If SOL can’t make it past the $135 resistance, we’re probably in for another downward spiral. Initial support sits at $130, like a safety net that might break under pressure.

If the price tumbles below $127, we might be looking at a pit stop near $124. And if it really wants to disappoint, it could sink towards the $120 zone. It’s all about the drama, isn’t it?

Technical Indicators (because we all know those are super reliable, right?):

Hourly MACD: Gaining pace in the bullish zone, which is nice, but let’s not get carried away.

Hourly RSI: Solidly above 50, so it’s not all doom and gloom just yet.

Major Support Levels: $130 and $124. Fingers crossed, huh?

Major Resistance Levels: $135 and $140. They’re like the bouncers at the club, and we’re just trying to get in.

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2025-11-24 08:31