Key Takeaways
- Solana’s price crashes towards its key support, creating a scare for traders and investors.
- The price of SOL has seen a significant decline in volume compared to its rally in December, as the price struggles to maintain its momentum.
- A key breakout for the price toward its high of $200 could see a strong rally to potential new highs.
Bitcoin’s price taking a nosedive below its psychological support of $100,000 support created a scare for crypto traders and investors as the price of Solana (SOL) crashed from its high of $150 towards a region of $126 as price sits on a key region of price collapse to lower price region if bulls fail to protect this zone.
With market uncertainty currently affecting the market, U.S. interference in the Israeli-Iranian conflict could lead to further financial market uncertainties in the coming days as traders and investors closely monitor the price of Solana (SOL).
However, Solana’s (SOL) price trades around a key region of interest, as it must defend this zone to maintain its bullish price action. The price of SOL has struggled to maintain its bullish price rally, similar to its push to $295, as it has faced challenges in the majority of 2025.
On-chain Solana (SOL) Price Insight
Source – Solana Volume and Open Interest from Coinglass
Solana’s market sentiment remains bullish based on social volume. Still, the on-chain data suggests otherwise, as its on-chain data has dipped significantly compared to its rally in December 2024, reaching a high of $295. This is due to Solana’s price surge, accompanied by strong volume to the upside and a corresponding increase in Open Interest.
However, the year 2025 has been a different story for Solana, following its gradual price crash from $295 to a region of $94. This has impacted its volume and Open Interest, as seen in the chart, according to Coinglass.
Following the market price decline, the price of Solana surged towards $185, accompanied by strong open interest in the rally. However, the price has struggled in the last few weeks despite speculation of a potential price rally to all-time highs of $300.
While the price of SOL hasn’t turned out as expected, the price sits around its key support zone as the price gains interest from traders and investors looking for a strong market reaction to the upside or downside before deciding on their next line of action.
Solana (SOL) Technical Analysis for this Week
Source – SOL 1D Price Chart From TradingView
Following the recent price rejection, the price of Solana could move into a trading range around its key support zone of $120 to $100 due to the significant liquidity in this region from bulls and whales. With buy orders getting filled around this zone, we could see a strong rally to the upside.
If the price of SOL trading into its key support fails to hold this zone, there are high chances of the price trading into a region of $85 or lower, as bears would be looking to take advantage of the price.
A retest of the $120 zone and rally to the upside of $190 for SOL bulls could see a fresh market rally towards potential new highs.
