- SOL price recovers past the demand zone in the $115.5 – $144.7 range, signifying a bullish outlook.
- The alt consolidates beyond this zone, preparing for a 15% surge to $174.3.
- A 4hr candle close under $115.5 will produce a lower low, annulling the bullish narrative.
Solana (SOL) has kept a critical support floor away, ready for tremendous upward movements. The volatility squeeze shows Solana will see a swift uptrend. Meanwhile, obstacles remain well-defined, suggesting a massive blockade.
SOL Price Ready for Upsurges
Solana had its price bouncing off the weekly support floor at $135.7 three times since 7 January. The latest retest on 11 January translated to a 17% upward move. However, SOL could not sustain the action, plunging to retest the 24hr demand region that extends between $115.5 and $144.7.
Consolidation seems to loom as Solana retest the mentioned barriers, confirming volatility shortage. Therefore, the anticipated surge may witness a swift and massive upside to retest weekly resistance barrier near $174.3, the level within the daily supply region that stretches between $169.7 and $179.1. Such a run-up will mean a 16% surge from SOL’s current zone – $149, and the upside move might pause after this upswing.
AS things appear up for the alternative coin amid ongoing consolidation, bulls’ failure to act would show weakness. In such a development, sellers might dominate, knocking Solana down towards weekly support near $135.7.
Meanwhile, the massive demand region means buyers have the chance to step up and relaunch an uptrend. Nevertheless, a 4Hr candlestick close beneath $115.5 will translate to a lower low, annulling the bullish narrative. In such a move, SOL price might revisit the support floor at $110.3. Bulls can gather momentum for the following run-up around this mark.
For now, Solana flashes bullish signals, ready to explore higher levels. The altcoin prints a base before launching a potential 15% upswing, eyeing $174.3.Meanwhile, bulls should maintain the token beyond the $115.5 barrier to keep the uptrends alive. Solana’s upcoming price actions may depend on the broad market outlook. Meanwhile, the crypto spectrum flashes bullishness as most alts waver in green.
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