SOL
Solana ‘Must Break Descending Resistance’ To Regain Bullish Momentum – Analyst
Solana is trading above a critical demand level of around $157, showing signs of a potential bounce after a recent pullback. This critical level has held firm despite market volatility, and now all eyes are on Solana as it attempts to regain bullish momentum.
With the U.S. election unfolding and the Federal Reserve’s interest rate decision just around the corner, this week promises to bring heightened volatility across the crypto market.
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Top analyst and investor Carl Runefelt has shared a technical analysis indicating that Solana must break above a key resistance level in the coming days to regain a strong uptrend. Runefelt notes that this resistance has kept the price in check, and a breakout likely leads to renewed optimism for SOL investors.
However, the risk of further downside remains if Solana fails to secure a position above this critical resistance. As these significant macro events unfold, Solana’s next moves will be closely watched, as breaking resistance could signal a larger rally in the near term.
Solana Trading Within Bullish Pattern
Solana has been a standout performer in this cycle, showing resilience as it holds above a crucial support level that previously acted as resistance. This pivotal moment could determine Solana’s near-term trajectory as it battles to reclaim bullish momentum.
According to top analyst Carl Runefelt, who shared insights on X, Solana faces a critical test at a descending resistance level that has consistently capped its gains. Runefelt’s technical analysis, focused on the 2-hour SOL chart, highlights this resistance around the $164 mark.
He suggests a confirmed breakout above this level would likely propel Solana higher, signaling a return to bullish price action.
However, there’s potential for sharp price swings this week, with the U.S. election and Federal Reserve interest rate decision creating an environment ripe for uncertainty and market manipulation. These macro events have the potential to significantly impact Solana’s movement, making the resistance break even more critical.
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If Solana breaches this resistance and establishes support above $164, it could attract bullish sentiment, pushing the altcoin toward new local highs. However, failure to do so could lead to increased selling pressure and a risk of a retracement, especially if broader market volatility intensifies. As such, the upcoming days will be crucial for Solana’s path forward, with traders and investors closely monitoring this key level.
SOL Price Action: Key Levels To Watch
Solana (SOL) is trading at $161 after a recent bounce from local lows at $155. This move has established a strong support base of around $155, which has proven crucial in holding off further downside.
For bullish momentum to take hold, SOL now needs to clear the $165 resistance level, which would confirm the potential for upward price action. A sustained push above $165 could signal strength and encourage buyers, paving the way for further gains.
However, a retracement is likely if SOL fails to break above this critical level. In this scenario, the price could fall back to the subsequent demand zone around $150, which aligns closely with the 200-day moving average (MA). The 200-day MA is a widely observed indicator and often acts as a strong support level in technical analysis, reinforcing the $150 zone as a potential floor.
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This consolidation phase places SOL in a pivotal position, with price direction largely dependent on its ability to overcome $165. As traders watch closely, this technical setup suggests that SOL’s next move will likely define its short-term trend, with $150 as a key fallback level if the bullish case doesn’t materialize.
Featured image from Dall-E, chart from TradingView
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Altcoins
Analyst Unveils Catalysts That Could Trigger ‘Crazy Pump’ for Solana, Says SOL Could Become the Hardest Layer-1
A widely followed analyst is leaning bullish on Solana (SOL) over the long term amid an upcoming upgrade.
In a new video, the analyst pseudonymously known as InvestAnswers tells his 563,000 YouTube subscribers that a proposal to reduce Solana’s inflation rate by around 80% at the end of Epoch 755 heightens Solana’s bullish prospects.
An Epoch is a fixed period during which certain network activities such as governance matters, protocol upgrades, and other related matters are decided and executed.
At the same time, InvestAnswers says the bullish thesis for the sixth-largest crypto asset by market cap is further improved if the U.S. Securities and Exchange Commission (SEC) approves a spot Solana exchange-traded fund (ETF).
“…they’re coming up with this vote to reduce inflation on Solana, which currently is not that bad at all. But that will reduce inflation from about 4.8% down to about 0.86% inflation.
If it passes, if it passes and it’s looking possible that it might… the voting ends at the end of Epoch 755… if this does happen, all of a sudden Solana becomes the hardest layer-one asset.
Remember, Bitcoin inflation is 0.85%. Solana’s, if this passes, will be 0.86%.
And my question is, what happens if a Solana ETF comes? I mean, so much is staked. There’s very little on exchanges. We could see a crazy pump.”
On the reduced staking rewards, the proposal to cut Solana’s inflation rate is likely to have, InvestAnswers says,
“People say, ‘well, if inflation goes down, won’t my staking rewards go down?’ Well, the math of it is your price appreciation will far exceed your staking rewards.
So please think price appreciation – do you want an asset to go from $120 to $240 or do you want an asset to stay at $120 and get 6% or 8% per year. The answer is you want it to double. That will impact price appreciation more.”
Solana is trading at $126 at time of writing.
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Today in crypto, CZ asks Elon Musk to ban automated bots on X, disappointment surrounding the US Strategic Bitcoin Reserve signals unrealistic investor expectations, and according to regulatory experts, Michael Saylor advocated for an aggressive US government approach to Bitcoin accumulation.
CZ asks Elon Musk to get rid of automated bots on X
Binance co-founder Changpeng Zhao (CZ) asked Elon Musk to ban automated bots on X — a problem that the crypto community has grappled with for years now.
“I think X should ban all bots. I only want to interact with humans here — not ‘automated,'” CZ wrote in a March 9 X post.
Automated bots amplify messages by liking or retweeting posts and can even comment on posts, which is often done in a coordinated fashion by an individual or teams running bot farms.
Source: CZ
These automated bots often pose as crypto influencers or executives from the digital asset industry to peddle fake tokens, fraudulent airdrop scams, and promote phishing links designed to steal funds from unsuspecting users.
A 2023 study from the Network Contagion Research Institute also found that coordinated bot attacks were used to manipulate crypto prices.
Bitcoin reserve backlash signals unrealistic industry expectations
The widespread disappointment surrounding the US Strategic Bitcoin Reserve — hailed as a historic step for Bitcoin adoption — suggests unrealistic investor expectations, according to regulatory experts.
President Donald Trump signed an executive order on March 7, which will utilize Bitcoin (BTC) seized in government criminal cases rather than purchasing the asset directly from the market. The announcement triggered a more than 6% drop in Bitcoin’s price, falling from $90,400 to $84,979, according to Cointelegraph Markets Pro data.
The reaction signals unrealistic industry expectations, according to Anastasija Plotnikova, co-founder and CEO of Fideum, a regulatory and blockchain infrastructure firm focused on institutions.
BTC/USD, 1-month chart. Source: Cointelegraph
“It was very clear that the US government could utilize the existing BTC in their possession, aka seized funds,” she told Cointelegraph, adding:
“It is bizarre to see such a big public disappointment coming from some industry players. […] Not that long ago, even the idea of BTC Reserve held and supported by a federal government was a revolutionary idea, and now we see a very solid implementation.”
The Bitcoin reserve is a “cautious” approach with taxpayer funds, which “make this decision well aligned with the messaging from this administration,” added the regulatory expert.
Michael Saylor pushes US gov’t to purchase up to 25% of Bitcoin supply
Strategy founder Michael Saylor has proposed that the United States government aims to acquire up to 25% of Bitcoin’s total supply over the next decade for its Strategic Bitcoin Reserve.
“Acquire 5-25% of the Bitcoin network in trust for the nation through consistent, programmatic daily purchases between 2025 and 2035, when 99% of all BTC will have been issued,” Saylor wrote in a document titled “A Digital Assets Strategy to Dominate the 21st Century Global Economy.”
Saylor presented the document to US President Donald Trump, government executives, and global crypto leaders at the White House Crypto Summit on March 7.
He explained that the government should stick to a “Never sell your Bitcoin” policy, predicting that by 2045, the Strategic Bitcoin Reserve could generate over $10 trillion annually, and serve as a “perpetual source of prosperity” for Americans.
Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana has faced intense selling pressure and price swings, with the asset losing over 57% of its value since January 13. Bulls have struggled to regain momentum, and market sentiment suggests that the crypto market is not in a healthy condition for a strong recovery. As uncertainty continues, investors remain cautious, watching for signals of a potential trend shift. However, despite the bearish outlook, some analysts believe that this correction could be nearing its end. Many are now looking for key technical confirmations that could indicate a reversal or breakout in the near future. A top crypto analyst, Ali Martinez, shared a technical analysis on X, revealing that Solana remains in consolidation within a wide range pattern. This type of formation often suggests increasing volatility before a potential breakout to higher prices. If SOL follows the historical behavior of this pattern, it could be positioning for a significant move upward once market conditions stabilize. With Solana hovering near crucial price levels, the coming days will be key in determining whether bulls can reclaim control or if further downside awaits. Traders are now watching for a decisive breakout or another leg down before making their next move. Solana is struggling to hold the $140 support level after failing to reclaim higher price levels, keeping sentiment bearish as price action continues in a downtrend. Analysts remain cautious, warning that SOL could see further declines unless bulls regain control and establish stronger momentum. The past few weeks have been marked by unpredictable events, adding to the market’s uncertainty. The ongoing trade war developments between the United States, Mexico, Canada, and China have put additional pressure on financial markets, including crypto assets like Solana. Meanwhile, President Trump’s executive order to establish a Strategic Bitcoin Reserve had an underwhelming effect on the market, failing to generate the bullish reaction many investors had hoped for. Despite these challenges, some technical indicators suggest that Solana may be gearing up for a significant move. Martinez’s analysis highlights that SOL remains in consolidation within a right-angled ascending broadening pattern. Historically, this formation has led to high volatility and a breakout in either direction, hinting that a major price move could be coming soon. If Solana breaks below $140, it could trigger a deeper correction, further reinforcing the bearish trend. However, if bulls manage to push SOL above key resistance levels, it could reverse the downtrend and set the stage for a strong recovery rally. For now, traders are closely monitoring SOL’s price action, waiting for a decisive move that could determine its next major trend. The coming days will be crucial in assessing whether Solana can stabilize and rebound or face further downside pressure. Solana is currently trading at $139 after failing to reclaim the 200-day Moving Average (MA) and Exponential Moving Average (EMA), which sit around the $184-$186 resistance zone. The inability to break above these critical levels has left bulls in trouble, as SOL struggles to hold the $140 support and now risks setting fresh lows below $125. The bearish momentum has kept SOL under pressure, with price action confirming a continued downtrend. If sellers gain more control and $140 fails to hold, a breakdown below $125 could trigger further downside, forcing SOL into lower demand zones. However, despite the current weakness, there’s still a chance for recovery. If bulls can push SOL back above $180, reclaiming this critical level could shift market sentiment and trigger a strong recovery move. A decisive breakout above this zone would invalidate the bearish outlook, signaling a potential push toward higher resistance levels. For now, traders are watching closely to see whether Solana can hold its key support or if another leg down is inevitable. The next few days will be crucial in determining whether SOL can stabilize or face deeper losses in the short term. Featured image from Dall-E, chart from TradingView Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025 Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist Aptos Leverages Chainlink To Enhance Scalability and Data Access Bitcoin Could Rally to $80,000 on the Eve of US Elections Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje Crypto’s Big Trump Gamble Is Risky Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
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