{"id":839155,"date":"2025-04-05T08:11:40","date_gmt":"2025-04-05T13:11:40","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/05\/solana-sol-poised-to-hit-145-level-heres-why\/"},"modified":"2025-04-05T08:11:40","modified_gmt":"2025-04-05T13:11:40","slug":"solana-sol-poised-to-hit-145-level-heres-why","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/04\/05\/solana-sol-poised-to-hit-145-level-heres-why\/","title":{"rendered":"Solana (SOL) Poised to Hit $145 Level, Here\u2019s Why\u00a0"},"content":{"rendered":"
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\"Solana<\/figure>\n<\/div>\n
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SOL, the native token of the Solana blockchain, seems to be shifting its bearish market sentiment after a notable price decline over the past few days. On April 4, 2025, following Treasury Secretary Scott Bessent\u2019s bold statement that \u201cBitcoin is becoming a store of value,\u201d the overall crypto market showed an impressive upside rally.<\/p>\n

Current Price Momentum\u00a0<\/strong><\/h2>\n

Amid this, SOL has registered a price surge of over 8% in the past 24 hours and is currently trading near $123. During the same period, its trading volume dropped by 9%; however, it seems to be recovering as the market continues to maintain the upside rally following Bessent\u2019s statement.<\/p>\n

This upside momentum was recorded when SOL\u2019s price was retesting its crucial support level of $114.<\/p>\n

Solana (SOL) Technical Analysis and Upcoming Levels\u00a0<\/strong><\/h2>\n

According to expert technical analysis, SOL appears to be forming a bullish double-bottom price action pattern on the daily time frame. However, the pattern is not yet complete, as the daily chart currently shows a single leg with two bottoms at the key horizontal support level of $114.<\/p>\n

<\/a>
Source: Trading View<\/figcaption><\/figure>\n

In addition to the bullish price action pattern, SOL\u2019s daily chart has also formed a bullish divergence, indicating that the asset is poised for a massive upside rally.<\/p>\n

Based on the recent price action and historical momentum, if SOL\u2019s price remains above the $114 level, there is a strong possibility it could soar by 18% to reach the $144.5 level \u2014 or even higher in the future.<\/p>\n

Major Liquidation Levels\u00a0<\/strong><\/h2>\n

This shift in sentiment and the strength of SOL\u2019s upside momentum are putting $11.5 million worth of short positions at risk of liquidation, as reported by the on-chain analytics firm Coinglass<\/a>.<\/p>\n

<\/figure>\n

Data reveals that traders are currently over-leveraged, with key levels at $121.3 on the lower side and $124.1 on the upper side, holding $31.45 million and $11.50 million worth of long and short positions, respectively.<\/p>\n

While examining the on-chain metrics, it appears that the bulls are back and currently dominating the asset.<\/p>\n<\/div>\n

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\n Chandan Gupta<\/p>\n","protected":false},"excerpt":{"rendered":"

SOL, the native token of the Solana blockchain, seems to be shifting its bearish market sentiment after a notable price decline over the past few days. On April 4, 2025, following Treasury Secretary Scott Bessent\u2019s bold statement that \u201cBitcoin is becoming a store of value,\u201d the overall crypto market showed an impressive upside rally. Current<\/p>\n","protected":false},"author":1,"featured_media":839156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23308,47657],"tags":[],"class_list":{"0":"post-839155","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-poised","8":"category-solana"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=839155"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/839155\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/839156"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=839155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=839155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=839155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}