Solana Reclaims $120 Range; $130/21‑day SMA Key for Upside to $170–$220
Solana (SOL) has recovered above the important $120 support after earlier weakness and is trading sideways within a defined range. Price remains under short-term moving averages, with the 21-day SMA acting as immediate resistance and $130 the near-term cap. On shorter timeframes (4‑hour), candles sit above horizontal moving averages, indicating conditional short-term strength while price holds those lines. A decisive break and daily close above the 21-day SMA and $130 would likely resume a bullish move toward $170 and potentially $220 (with secondary supply zones at $240–$260). Key demand/support zones are $140, $120 and $100; intraday lows have tested the $124–$127 area (with a prior low near $103). Failure to hold $120 risks a deeper pullback toward the prior low (~$103). This is a technical, opinion-based read for traders and not investment advice.
Neutral
The technical outlook is mixed — recovery above $120 and short-term moving averages on the 4‑hour chart show conditional strength, but price remains below the 21-day SMA and other key short-term moving averages on higher timeframes. A clear break and daily close above the 21-day SMA and $130 would be a bullish trigger, targeting $170 and higher supply zones; conversely, loss of $120 risks a drop toward the prior low near $103. For traders, this implies a wait-for-confirmation approach: momentum above the 21-day SMA would support long positions with defined targets and stops; failure to hold $120 favors short or risk-off positioning. Given the balanced upside and downside triggers, the immediate impact on SOL’s price is neutral until a decisive breakout or breakdown occurs.