4 min readSolana (SOL/USD) has bounced strongly from the local long reload zone between the 0.786 and 0.618 Fibonacci retracement levels. This zone, centred around $130, offered a textbook support reaction, triggering renewed buying interest following signs of easing geopolitical tension in the Middle East. Reports of peace talks between Israel and Iran have helped stabilise broader risk sentiment, which appears to be supporting altcoins like SOL.
On the daily chart, the structure remains bullish, with price rebounding cleanly from a key technical zone. The strong reaction off $130 confirms the validity of this area as a support cluster, and momentum now turns toward retesting upper resistance levels.
On the 4-hour chart, Solana is currently trading just below a local resistance zone near $145, marked as level 1. This level has acted as a key level recently and may act as the next key barrier. Price has also broken above a descending trendline, marked as level 3, further supporting the bullish breakout narrative.
If bulls manage to clear $145 with conviction, the next level to watch is around $158, which stands as the first trouble area (FTA) for any continuation move.
However, if the $145 resistance holds and the price rolls over, it would suggest that the current bounce may be stalling, with the potential for a deeper pullback back into the $130 region.
As always, confirmation is key, and traders will be watching closely to see if this move turns into a sustained breakout or a short-term relief rally.
Trading involves risk.
Author
Risk DisclaimerThe content provided here is for informational purposes only. It is not intended as personal investment advice and does not constitute a solicitation or invitation to engage in any financial transactions, investments, or related activities. Past performance is not a reliable indicator of future results.
The financial products offered by the Company are complex and come with a high risk of losing money rapidly due to leverage. These products may not be suitable for all investors. Before engaging, you should consider whether you understand how these leveraged products work and whether you can afford the high risk of losing your money.
The Company does not accept clients from the Restricted Jurisdictions as indicated in our website/ T&C. Some services or products may not be available in your jurisdiction.
The applicable legal entity and its respective products and services depend on the client’s country of residence and the entity with which the client has established a contractual relationship during registration.
