Solana (SOL) 180-Day Consolidation Breaks: Massive Rally Ahead?
Since a 24% pullback from its local highs, Solana (SOL) has held above $120. Solana has outperformed this cycle as the crypto market fears and uncertainties, drawing experts and investors searching for chances. This price zone may influence the asset's next significant move.
SOL's recovery and rebound depend on if it can retain $120 support, therefore traders are watching.
If Solana loses its support, the market may drop more in the next days. This struggle at $120 will determine Solana's short-term trajectory as investors evaluate its strength amid market turmoil. All eyes are on Solana as it faces this vital choice.
Solid Solana
Solana (SOL) has been consolidating between monthly support at $120 and monthly resistance at $210 since March. As prominent trader Curb recently discussed X, experts have noticed this 180-day consolidation.
Curb's analysis emphasizes this lengthy range-bound behavior, indicating Solana's breakout above the consolidation might be dramatic.
Once Solana breaks out of its present price range, Curb expects it will surge to $400-$500 and then to $800-$1,000. The excellent foundations and technical setup Solana has maintained throughout consolidation informs his outlook.
Solana is gaining popularity with crypto enthusiasts and institutional investors.
Decentralized apps (dApps), NFTs, and a strong developer community have boosted its long-term growth prospects. As SOL hangs at $120 support, investors are eager for a breakthrough that might launch its next bullish cycle.
This consolidation phase has created pressure, and Solana's next move might determine its cycle direction.
SOL Price Demand Test
Solana (SOL) is at $129.60 following rough trading. SOL tested a local demand zone between $122 and $135 because to market volatility and uncertainty.
Despite this, price movement is weak. SOL is below its 4-hour 200 MA, $143.76, indicating lackluster momentum from its previous high.
