Solana Price Prediction: $130 Bottom Before $200 Surge?

Key Price Levels and Onchain Insights

Solana (SOL) appears to be forming a strong base near the $130 level, according to recent chart patterns and onchain activity. The data suggests that this price zone might act as a short-term bottom, potentially setting the stage for a bullish reversal back to the $200 range.

Traders and analysts have been closely monitoring this support level after Solana saw a sharp correction from its recent highs. The $130 mark has shown signs of holding firm, acting as a key psychological and technical support level on multiple timeframes.

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  Solana’s support zone seen around $130.
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  Onchain data supports bullish reversal potential.
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  A retest of $200 is becoming more likely.

Onchain Metrics Signal Strength

Beyond technical charts, onchain data is adding fuel to the bullish outlook. Wallet activity, active addresses, and transaction volume on the Solana network are showing stability, despite recent price volatility. This suggests that core user engagement remains strong and long-term holders are unfazed by the short-term dip.

Exchange flows also indicate reduced selling pressure. A decline in SOL deposits on exchanges typically signals that investors are not looking to sell immediately, which adds confidence to the $130 support thesis.

Path Toward $200 Remains Open

If Solana continues to hold the $130 level, the next key resistance lies around $150-$160. A break above these levels could open the door for a renewed push toward the $200 range, which was last seen during the previous market upswing.

While broader market conditions and Bitcoin price movements will play a role, Solana’s fundamentals, including its thriving DeFi and NFT ecosystems, remain strong. These could act as catalysts in the next leg upward.

As always, investors should stay cautious and consider both technical and macro indicators before making any decisions, but current signs point to a possible bullish phase ahead for SOL.