{"id":4130,"date":"2025-04-09T18:13:11","date_gmt":"2025-04-09T18:13:11","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/solana-sol-needs-15-bounce-after-multi-year-support-retest-recovery-ahead\/"},"modified":"2025-04-09T18:13:11","modified_gmt":"2025-04-09T18:13:11","slug":"solana-sol-needs-15-bounce-after-multi-year-support-retest-recovery-ahead","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/solana-sol-needs-15-bounce-after-multi-year-support-retest-recovery-ahead\/","title":{"rendered":"Solana (SOL) Needs 15% Bounce After Multi-Year Support Retest, Recovery Ahead?"},"content":{"rendered":"

Amid the market correction, Solana (SOL) has reclaimed the $100 mark after dropping below this crucial support for the first time in over a year. However, some analysts consider a 15% bounce toward a key historical support is necessary to target higher levels.<\/p>\n

Is Solana Bull Run Over?<\/h2>\n

Solana hit a 14-month low on Monday after falling 20% in 24 hours, momentarily trading around the $95 mark for the first time since February 2024. After the correction, SOL bounced around 18% to $112 before retracing toward the $100-$110 price range.<\/p>\n

Fueled by the market\u2019s memecoin frenzy, the altcoin was one of the leading cryptocurrencies last year, hitting an all-time high (ATH) of $270 on January 19. Since then, the cryptocurrency has dropped over 63% from the start-of-year highs.<\/p>\n

During the Q1 retraces, Solana retested the $120 support zone several times, bouncing from the range, which served as a crucial level during the 2021 and 2024 rallies.<\/p>\n

However, several analysts pointed out that the support weakened with each retest, and losing that level could see Solana fall under the $100 mark and risk a 50% drop to the $60 support zone.<\/p>\n

After dropping below the key barrier, trader Crypto Bullet highlighted<\/a> that SOL\u2019s recent price action broke below August 5 lows, which signals that the cryptocurrency\u2019s bull market could be over.<\/p>\n

According to the trader, Solana had a \u201cclear 5-wave impulse to the upside that ended in January with TRUMP coin blow-off top,\u201d which suggests a corrective a, b, c zigzag will follow. Based on this, the trader expects \u201ca good mid-term bounce to ~$200 (Lower High)\u201d for wave b and a drop to the $30-$40 price range for wave c.<\/p>\n

SOL Needs 15% Jump<\/h2>\n

Analyst Ted Pillows considers that Solana could see a massive rally after the correction. He explained that SOL bounced from its multi-year ascending support trendline, a key rebound point in Q3 2023.<\/p>\n

\"solana\"<\/p>\n

The last time Solana retested this trendline, it rallied 1,000% toward the $270 mark. If the cryptocurrency holds this level, the analyst considers that SOL could bounce to its ATH in the coming months.<\/p>\n

Meanwhile, several analysts noted that recovering the $120 support zone is crucial after the recent price action, as this level could determine the altcoin\u2019s next move again.<\/p>\n

Sjuul from AltCryptoGems highlighted<\/a> that SOL needs to \u201cgive a clear bounce and reclaim the $120 level\u201d now that \u201cliquidity is taken.\u201d He asserted that failing to recover this key range would suggest that another drop could be ahead.<\/p>\n

Similarly, Ali Martinez pointed<\/a> out that Solana\u2019s TD Sequential flashes a buy signal on the weekly chart. Per the post, SOL \u201cneeds to stay above $95 and break $121 to set the stage for a rally toward $147.\u201d<\/p>\n

As of this writing, Solana trades at $105, a 1% decline in the daily timeframe.<\/p>\n

\"Solana,<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid the market correction, Solana (SOL) has reclaimed the $100 mark after dropping below this crucial support for the first time in over a year. However, some analysts consider a 15% bounce toward a key historical support is necessary to target higher levels. Is Solana Bull Run Over? Solana hit a 14-month low on Monday…<\/p>\n","protected":false},"author":1,"featured_media":4131,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[42,846,725,468,281,33,916,200,82,297,210,214,1990],"class_list":["post-4130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-crypto-analyst","tag-crypto-investors","tag-crypto-market-correction","tag-crypto-market-recovery","tag-crypto-trader","tag-cryptocurrency-market-news","tag-memecoin-frenzy","tag-sol","tag-solana","tag-solana-analysis","tag-solana-price","tag-solusdt","tag-trump-tariffs"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/4130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=4130"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/4130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/4131"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=4130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=4130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=4130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}