Price Analysis

Solana Price Prediction Hints Last Pullback Before $SOL Reclaims $150

Solana Price Prediction: The SOL price enters a pullback phase, leading to a sharp drop of 23% to test the 38.2% Fib level, is this dip worth buying?
Published by
Solana Price Prediction Hints Last Pullback Before $SOL Reclaims $150

Solana Price Prediction: The fifth largest cryptocurrency, Solana, enters a new correction phase in a falling channel to test the 50-day EMA. With a solid support trendline in action supported by the crucial support of Fibonacci levels and EMA, the reversal chances for the SOL price trend are heightened. Will these support levels refuel the bullish momentum in Solana?

Advertisement

Short Correction prepares SOL for a bullish breakout

  • The Flag pattern formation hints temporary correction in SOL price
  • A positive alignment in daily EMAs(20, 50, 100, and 200) indicates the market sentiment remains bullish
  • The 24-hour trading volume on the Solana coin is $2.58 Billion, indicating a 2% loss.
Solana Price Prediction| TradingView Chart

In the last few weeks, the overhead supply at the $127 level led to a quick drop in the Solana price, evaporating almost 25% of its market cap. The bearish-influenced price trend forms a falling channel pattern in the daily chart, leading to a third drop within the channel.

However, the active buyers are absorbing the supply quickly at levels under $90, leading to lower price rejection candles. This increases the possibility of a bullish reversal with a double-bottom pattern formation or a bullish reversal within the flag pattern. 

Further, the correction phase retests the 38.20% Fibonacci level for the second time, and the drop in trading volume accompanies the price fall. Hence, the lack of selling pressure increases the chances of buyers regaining trend control. 

Hence, a potential bounce back in the SOL price can rechallenge the overhead resistance trendline. 

Advertisement

Which Levels Can Solana Reclaim?

While the short-term correction is in motion for Solana, the falling channel in Solana projects a weakness amidst the prevailing price trend. Therefore, the ongoing buying at the lower levels may soon catalyze a bullish comeback in Solana.

If the SOL price breaks above the $100 mark, the bullish trend may face crucial resistances at the $120 and $150 mark. However, a quick correction below the 38.20% Fibonacci level would start a downfall to the $72 mark.

  • Relative Strength: The daily RSI slope resists a drop below the 50% line, with an uptick reflecting bullish fightback. 
  • Exponential Moving Average: The 50-day EMA provides dynamic support to the recent drop and coincides with the 38.20% Fib level to cement the base. 

Related Articles:

Share
Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?

The Solana price has held steady, currently trading at around $202 at press time. Recent…

September 6, 2025
  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025