Solana price action has been tracing a complex pattern known as an ascending broadening wedge. This technical formation reveals a critical moment for the cryptocurrency, with its price hovering near a support level.
A critical analysis by Alichart shows that the upper trendline around $280–$300 acts as a resistance, while the lower horizontal zone at $125 emerges as a make-or-break point for traders and investors.
SOL Critical $125 Support Level and Its Market Implications
According to the price analysis, the $125 support level has become a focal point of market scrutiny. Multiple tests of this zone have highlighted its significance in determining Solana near-term trajectory. SOL price movements have seen the cryptocurrency touch this level and demonstrate a slight rebound, suggesting the potential for a resilient support zone.
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However, the stakes are high. A breakdown below $125 could trigger a downward movement, potentially sending Solana tumbling to the $60–$75 range. Conversely, a successful defense of this support could pave the way for a recovery towards $180–$200. Breaking above $200 would signal a bullish continuation, potentially pushing the price towards $250 and beyond.
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