Solana (SOL) Price Poised to Hit $145 Level, Here’s Why
SOL, the native token of the Solana blockchain, appears to be shifting its bearish market sentiment after a notable value decline over the previous few days. On April 4, 2025, following Treasury Secretary Scott Bessent’s daring assertion that “Bitcoin is turning into a retailer of worth,” the general crypto market confirmed a formidable upside rally.
Present Value Momentum
Amid this, SOL has registered a value surge of over 8% previously 24 hours and is at the moment buying and selling close to $123. Throughout the identical interval, its buying and selling quantity dropped by 9%; nevertheless, it appears to be recovering because the market continues to take care of the upside rally following Bessent’s assertion.
This upside momentum was recorded when SOL’s value was retesting its essential help degree of $114.
Solana (SOL) Technical Evaluation and Upcoming Ranges
In keeping with knowledgeable technical evaluation, SOL seems to be forming a bullish double-bottom value motion sample on the every day timeframe. Nonetheless, the sample will not be but full, because the every day chart at the moment reveals a single leg with two bottoms on the key horizontal help degree of $114.
Along with the bullish value motion sample, SOL’s every day chart has additionally shaped a bullish divergence, indicating that the asset is poised for a large upside rally.
Based mostly on the current value motion and historic momentum, if SOL’s value stays above the $114 degree, there’s a sturdy chance it might soar by 18% to succeed in the $144.5 degree — and even greater sooner or later.
Main Liquidation Ranges
This shift in sentiment and the power of SOL’s upside momentum are placing $11.5 million price of brief positions susceptible to liquidation, as reported by the on-chain analytics agency Coinglass.
Information reveals that merchants are at the moment over-leveraged, with key ranges at $121.3 on the decrease facet and $124.1 on the higher facet, holding $31.45 million and $11.50 million price of lengthy and brief positions, respectively.
Whereas analyzing the on-chain metrics, it seems that the bulls are again and at the moment dominating the asset.
