Solana Price Prediction: SOL Eyes 35% Rally Amid Bullish Signals
Key Insights:
- Solana approached a bullish breakout, with potential triggered by a daily candle closing above $125. This could pave the way for a 35% upside rally.
- On-chain metrics reveal traders have amassed $158.53 million in long positions at $116.80. This reflected their confidence that the SOL price would stay above this critical level.
- Additionally, on-chain analytics showed that exchanges saw $38 Million in SOL during the last day, suggesting a possible sell-off.
Market uncertainty has made the Solana price prediction crucial for gauging future trends. These insights could help assess whether the SOL price will persist in a downtrend or initiate an upside rally.
Over the past few days, the overall cryptocurrency market has witnessed notable price fluctuations. This has caused hundreds of millions worth of crypto liquidations.
Solana Price Prediction, Current Momentum & Key Levels
At press time, SOL was trading near $120.70 and had registered a price surge of over 9% in the past 24 hours. During the same period, its trading volume dropped by 17%.
This indicated lower participation from traders and investors compared to the previous day. Recent price fluctuations potentially caused this fall in trading volume.
However, the recent upside rally has pushed the SOL price near a key resistance level, which the asset has been facing along a descending trendline.
The daily chart reveals that SOL has faced this resistance since the beginning of 2025. Considering the current price momentum and market sentiment, this level appears to be a make-or-break situation for SOL.
The daily chart indicated a promising Solana price prediction in the higher time frame. Continued upside momentum might allow SOL to break the prolonged descending trendline.
A daily candle closing above $125 could initiate a 35% upside rally. This rally can potentially push the price toward the $180 level.
The four-hour chart highlights Solana’s lower time frame price prediction. It showed a descending trendline alongside a bullish head and shoulders pattern. This combination signaled potential upward movement for SOL.
The upside momentum may continue, and the asset may break out of both patterns. If this happens, it could create an area of confluence that strengthens Solana’s bullish outlook.
If this happens and SOL closes a four-hour candle above the $125 level, it could soar by 20%. This could potentially reach the $148 level in the near future.
This Solana price prediction will only be valid if SOL closes its four-hour and daily candles above the $125 level. Otherwise, it may fail, and history could repeat with downside momentum.
Bullish On-chain Metrics
On-chain metrics from the Coinglass tool revealed strong interest from intraday traders. They appear confident in taking long positions.
SOL Long/Short Ratio reached 1.049, its highest since early March 2025. This on-chain metric supports a bullish Solana price prediction, reflecting traders’ optimistic outlook.
This metric reveals that traders’ long positions are higher than their short positions. At press time, 51.2% of top traders held long positions, while 48.8% held short positions.
Meanwhile, data further revealed that traders were over-leveraged at the $116.8 level on the lower side (support). There, they built $158.53 Million worth of long positions.
The $122.8 level represented an over-leveraged resistance zone. Traders built just $63.30 Million worth of short positions at this level. These positions will be liquidated once the SOL price moves in either direction.
When combining these on-chain metrics with the Solana price prediction, it appears that bulls have dominated Solana. On the other hand, bears seem to be exhausted after being overpowered for several weeks.
