Solana Price Prediction: SOL Defends $150 Support Zone

Solana Price Prediction as Key $150 Support Strengthens

Solana Price Prediction: Key Support at $150 Holds Amid Volatility

Solana (SOL) is strengthening at a significant support zone following massive selling pressure at the start of the month. Analysts believe there is a possibility of recovery, provided buyers remain impelled, as a bullish estimate of the Fibonacci target at $360 regains traction.

Analyst Highlights $360 Fibonacci Target

One of the latest X posts by analyst More Crypto Online stated: The tension of SOL to $360 is getting to my heart rate like a 9 to 5. This was regarding the crucial 38.2% Fibonacci expansion at $360-$365, a zone that numerous analysts consider the next significant upside target if the price breaks the short-term resistance zones.

Source: X 

Currently, the price of SOL is trading around $155 and above a short-term support strip bordering $118 to $156, which corresponds to the 50-78.6% retracement range of the previous swing. 

The upper structure of time indicates that Solana is still in a corrective pullback after experiencing a multi-wave advance and indicates that the structure provides consolidation but not reversal of the trend. 

Market Reaction and Oversold Recovery Potential

Solana is trading at the current price of $155.31, recording a gain of +1.23 each day. The 1-hour chart indicates a recovery after the lower Bollinger Band at 153.05, with an RSI level of 22.94, which shows the state of being highly oversold. 

This environment implies that there is a space for a short-term technical bounce in case the momentum gains strength beyond the immediate resistance of around $161.60, and the stiffest resistance lies with a value of around $169.57.

Source: X

The market information indicates that it is moderately involved, as it is being traded at 1.62M, as buyers are back with caution in the crypto market after it became volatile. 

The higher order structure has not been broken because the accumulation zones between the range of $120 and $140 are supporting the higher order structure, with prior historical buying pressure being introduced at this point. 

Long-Term Outlook Targets $360 Recovery Zone

Solana is exhibiting a wide consolidation trend of $120-$260 over the last year that is characterized by various cyclical highs and accumulation periods. 

Analysts view this as a positive long-term position, and the next major marker is the $360 Fibonacci extension as pointed out by More Crypto Online.

Source: TradingView

Short-term indicators are cautious, but the big picture of the market is positive. Continued stability in the price, over $150, and larger volume may generate another leg upward into the target zone of $360. In contrast, a verifiable failure lying under the existing support zone may prolong the restorative framework.