- SOL trades at $133.48, showing early reversal signs with MACD crossover and rising volume.
- Key support at $130 holds; a break above $139.55 could open the path toward $156.
- Accumulation below $140 and bullish indicators hint at renewed upward momentum for Solana.
Solana (SOL) is currently trading at $133.48, showing early signs of a potential reversal. The price has crossed above both the 5-day and 10-day moving averages. The Relative Strength Index (RSI) is approaching the 50 level, which suggests strengthening bullish momentum. At the same time, the MACD has formed a bullish crossover under the zero line. Volume increased during the recent dip, signaling strong interest from buyers at lower prices.
Bullish Indicators Suggest Possible Recovery in SOL
According to an observation by GemXbt, Solana’s price movement has shown early recovery signs after reaching a low of $126. The current price action above the short-term moving averages suggests buyers may be gaining control. The RSI nearing the midline adds to the case for renewed bullish momentum.
Additionally, the MACD indicator has completed a bullish crossover below the zero line. This move can often indicate a trend change if supported by volume. The increase in trading volume during the recent pullback reflects renewed interest, especially as larger holders are seen accumulating tokens below $140.
Analyst Cas Abbe stated, “SOL had a perfect bounce back from its support level. Good to see buyers stepping in, and this makes me bullish on it.” Many analysts have noted that the correction may be near exhaustion, though further confirmation is needed from price action above $139.55.
Support Levels Hold While Technicals Improve
SOL has remained above the 61.8% Fibonacci retracement level drawn from April’s low to May’s high. This key support lies near $130. A daily close above this level could strengthen the argument for a continued recovery.
If the price breaks $139.55, it may open the door toward $156 in the short term. According to an analysis prepared by BitGuru, a double-bottom or W-pattern is forming on the 4-hour chart.
The setup points to a potential breakout if SOL holds above the neckline. With ongoing accumulation and positive short-term signals, traders continue to watch the $138 to $140 zone as critical support.
