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Solana is trading at critical levels after a volatile week that saw major surges across the crypto market. While the rally has sparked optimism, analysts remain sharply divided. Some believe this is just a healthy correction within a broader bull cycle, while others warn that the crypto market may have already entered a new bear phase.
For Solana, the next few weeks are expected to be decisive. Top analyst Inmortal shared insights on X, highlighting that within the next 30 days, the market will likely reveal whether Solana’s latest recovery attempt is a simple bear market bounce or the beginning of a bull market dip and new expansion.
As Solana holds above key technical levels, price action will be critical to determine sentiment. The stakes are high, especially as macroeconomic uncertainty, driven by global trade tensions and monetary policy shifts, continues to cloud the broader financial landscape.
Investors should stay cautious, but alert. Solana’s next move could set the tone not just for its own trajectory, but for the altcoin sector as a whole heading into the summer months. The clock is ticking on this crucial phase.
Solana Approaches Critical Level Amid Sharp Recovery
Solana has rebounded sharply from its April 7 local low around $95, gaining an impressive 54% in just a few weeks. Bulls have regained momentum as Solana trades near critical resistance levels, with analysts calling for a potential push above $160 in the short term. However, despite this strong recovery, risks of a downside reversal remain high.
Since January, Solana has been one of the hardest-hit major cryptocurrencies. It lost over 65% of its value during the most recent downtrend, highlighting the intense selling pressure and increased speculation across the broader market. While the recent rally is encouraging, many are questioning whether it marks the start of a new bullish phase or just a temporary rebound within a larger bearish trend.
Inmortal’s insights emphasize that May will be a decisive month for Solana. According to him, “you can’t imagine how vital May is.” Over the next 30 days, the market is expected to reveal whether Solana’s recent strength represents a simple bear-market bounce or the beginning of a true bull-market dip that could lead to further gains.
The coming weeks will be critical, and Solana’s price action will likely set the tone for the entire altcoin market this summer.
Price Action Details: Key Levels To Watch
Solana (SOL) is trading at $146 after losing around 6% of its value since Friday. Despite the strong rally earlier this month, bulls are now facing increasing pressure to defend current levels. SOL must reclaim the $180 level, which aligns closely with the 200-day moving average (MA), to resume the bullish trend and regain market confidence.
The $180 mark is critical because a decisive move above it would signal strength and open the door for a push toward higher resistance zones. Without this breakout, however, the current rally risks fading into another lower high, further weakening Solana’s structure.
On the downside, losing the $140 level would be a major red flag for bulls. A sustained breakdown below this support could trigger a deeper correction, with price potentially dropping below the psychological $100 mark. Such a move would likely accelerate bearish sentiment and invite further selling pressure, especially as macroeconomic risks and global uncertainty continue to weigh on the crypto market.
The next few days will be key for SOL. Bulls must act quickly to defend, support, and attempt a recovery, or risk opening the door to another major leg down.
Featured image from Dall-E, chart from TradingView
Sebastian’s journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.
To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian’s goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.
To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.
Sebastian’s passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.
Sebastian’s journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.
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