Is It Time to Buy Solana?

Market conditions remain volatile, and Solana is experiencing the same uncertainty affecting the broader cryptocurrency landscape. Recent price movement reflects shifting sentiment, with direction changing quickly and suggesting that the next substantial move could arrive unexpectedly.

This analysis examines whether current levels may offer a potential buying opportunity or whether waiting for another downward move could be more appropriate. For clarity, the evaluation is based on price action.

Solana technical analysis

SOLUSD - 1 Day Time Frame

Solana is currently attempting to establish a local bottom, with the marked green zone between $125 and $135 functioning as near-term support area. The price has reacted from this region once before, leading to a move from $125 to $253, representing a gain of approximately +100%. Because of that previous reaction, this zone remains technically significant. If the price dips further, the next notable area of interest lies between $102 and $112, which could serve as a secondary support region.

It is also worth noting that Solana has retraced more than 52% from its all-time high. From a broader perspective, the long-term structure suggests that accumulating at discounted levels could be considered reasonable within a multi-year outlook. Should the market decline again, additional scaling could help average the entry price. Much of the downside liquidity has already been cleared, while remaining liquidity is positioned above the current level.

Solana price target

The key element to watch is whether Solana forms a higher high and higher low on the daily timeframe, as this structure often signals the beginning of renewed bullish price delivery. If this occurs, the following scenario becomes plausible:

A sweep of liquidity above the last significant high could follow, with a subsequent retest of support before a potential move toward the first target at $163. A hypothetical entry could be positioned near $134, with a protective stop-loss placed below the most recent swing low, approximately under $120, resulting in an estimated 1:2 risk-to-reward setup.

If upward momentum continues, only a portion of the position could be secured at the first target, with the remaining amount managed toward higher resistance zones indicated on the chart.