If the price of SOL breaks below $110, this could lead to huge sell orders being activated, thus lowering prices for Solana.
Since rallying above its high of $145, Solana’s (SOL) price has fallen by 12%, suffering price rejection around those regions as the price of Solana (SOL) continues to deal with current market uncertainties.
Fundamentally, Solana remains bullish, with its chain recording strong volume and activities despite suffering a drastic reduction in on-chain activities and volume compared to previous months in October to December of 2024, as the price of Solana created new all-time highs.
The news of PayPal including Solana in their payment system is a huge boost for the Solana ecosystem and price. The price of Solana remains bullish, above $110, considering its price holding above this region, which supports bearish price orders.
Solana’s (SOL) price retesting its region of $120 continues to look less likely to hold sell orders from bears, as the price of SOL has on several occasions retested those zones, making this region weak to sell-off pressures or panic sells.
Top on-chain analyst Ali Martinez has speculated that nothing has changed for Solana’s price, following its range for months now and creating a broadening wedge. The price has retested its strong support of $120, with the price looking to break this region to the downside.
A break to the downside for SOL could spark huge sell orders and a potential price decline towards $80, following price action closing below $110 and flipping that region into resistance.
Source – Solana 1D Price Chart From TradingView
Solana’s (SOL) price prediction for April looks dicey following price uncertainties. Bitcoin and altcoins are suffering huge price declines, heavily affected by microeconomic factors. The price of most altcoins, including Solana, is struggling to hold its support zone of $110, as the price appears weak.
The price of SOL trading below its 50-day and 200-day EMAs (Exponential Moving Averages) suggests strong bearish price dominance. If the price of SOL closes below $110, it could face a much-decreased price decline.
Solana’s price reclaiming above $200 will restore strong bullish price action and lead to the price attempting to break above the previous all-time high of $295. Solana’s price prediction for 2025 suggests that the price has the potential to hit $1,000.
If the price of Solana holds above $120 and breaks its resistance of $200, we could see some firepower from Solana in April, as there are strong indications of the crypto market performing better in April based on historical price data.
If the price breaks below $120 to $110, which acts as a support zone for the price, the price of SOL could potentially trade into the $85 support zone, with buy liquidity waiting to be activated. Price could ignite a fresh rally from $85 to the upside.
