The uncertainties of economic tensions and global commercial policies continue to create volatility in the cryptography market, with sun sailing these challenges better than many alternatives.
The price of Solana Token increased more than 4% on Thursday, while the broader market meter, Coendesk 20, increased approximately 3%.
The range of $ 125- $ 127 for Sol has emerged as a critical support zone that successfully rejected multiple inconvenience attempts, while the area of $ 133.50- $ 133.60 represents a significant resistance, according to the technical analysis model of Coindesk Research.
Blockchain data shows that more than 32 million sun (more than 5% of the total supply) accumulate at the level of $ 129.79, establishing it as a crucial pivot point for a future price action.
TECHNICAL ANALYSIS
- Sol established a well-defined support zone between $ 125-127, which successfully rejected multiple inconvenience attempts.
- The price demonstrates strong resistance, recovering 4.5% of its minimum of April 16, $ 123.64 to $ 135.57, establishing a clear higher trend.
- Canada launched the first Spot Solana ETFs in North America on April 16, issued by asset administrators, including 3IQ, purpose, evolve and CI, promoting institutional interest.
- Solana has recovered the first place in the activity of Dex, surpassing Ethereum after a profit of 16% for seven days, with a total blocked value (TVL) by increasing 12% to $ 7.08 billion.
- The volume analysis shows a particularly strong accumulation during the afternoon increase of April 16, with more than 3 million negotiated units as the price broke at the resistance level of $ 130.
- The fibonacci setback from the maximum of April 14 ($ 136.01) until the minimum of April 16 suggests that the recent rally has recovered the critical level of 61.8%.
- In the last 100 minutes of negotiation, Sol experienced a significant downward correction, falling from $ 134.11 to $ 130.81, which represents a 2.5%decrease.
- The mass sale intensified around 14: 03-14: 07, when the volume increased dramatically to more than 92,000 units during a single minute candle.
- A strong resistance zone at $ 133.50- $ 133.60 rejected multiple recovery attempts.
- There was a remarkable breakdown at the support level of $ 132.00, which caused waterfall settlements.
- The prices have now turned on the Fibonacci level of 78.6%, which suggests a continuous potential towards the $ 125-127 support zone if the bassist impulse persists.
Discharge of responsibility: This article was generated with artificial intelligence tools and reviewed by our editorial team to guarantee the precision and compliance with our standards. For more information, see Coindesk’s complete policy. This article may include information from external sources, which are listed below when appropriate.
External references:
- “The Solana cost base changes sharply: $ 129 emerges as a key pivot zone,” published April 16, 2025.
- Newsbtc, “Solana tests again the bearish breakdown zone: a $ 65 target still at stake?” Posted on April 17, 2025.
- Cointelegraph, “Why is Solana Price elevated this week?” Posted on April 12, 2025.
- Cryptopotato, “Solana (Sol) jumps for 7% daily, Bitcoin (BTC) Eyes of $ 85K again (Market clock)”, published on April 17, 2025.
- Cointelegraph, “The price of Solana has increased 36% of its minimum cryptocurrency shock: Is $ 180 sun the next stop?” Posted on April 16, 2025.
