Solana price rebounds to $133 as bulls defend key support
Solana’s fundamentals remain strong in several areas
As of April 14, Solana (SOL) is currently trading near $132.95, attempting to recover from a sharp correction that saw its price fall over 60% from the yearly high above $210.
Technical indicators suggest the altcoin is trying to stabilize in the short term, though momentum remains fragile. On the daily chart, SOL has formed a descending channel since late March, with lower highs and lower lows defining the trend.
Currently, the 50-day moving average has turned downward and sits near $145, now acting as a dynamic resistance level. Meanwhile, the 200-day moving average remains well below the current price, around $88, signaling that the long-term trend is still technically bullish, though the medium-term structure is weakening. The RSI (Relative Strength Index) has rebounded from oversold territory and is now hovering around 46, indicating a slight shift in sentiment but no strong bullish momentum yet.
SOL price dynamics (February 2025 - April 2025). Source: TradingView.
Immediate support is observed near the $125–$128 zone, which has held multiple times over the past week. A break below this could open the door for further declines toward psychological support at $100. On the upside, SOL would need to clear the $140–$145 resistance area to trigger a more meaningful recovery.
Macro pressures and blockchain ecosystem shifts weigh on sentiment
The broader market environment remains challenging for risk assets, including cryptocurrencies. Following a strong first quarter, digital assets have come under pressure amid rising geopolitical risks, persistent inflation concerns, and renewed speculation around U.S. Federal Reserve policy tightening. These factors have led to cautious investor behavior, particularly in high-beta assets like Solana.
Compounding these macro headwinds is increased competition within the layer-1 blockchain space. Solana had previously gained traction for its high throughput and low fees, drawing comparisons to Ethereum. However, it is now facing rising transaction volume and developer activity from newer platforms such as Sui and Aptos. Additionally, outages and network congestion issues, though less frequent recently, continue to undermine confidence in its long-term scalability.
Nevertheless, Solana’s fundamentals remain strong in several areas. NFT activity on its blockchain has been resilient, and recent integrations with payment platforms and Web3 applications underscore its continued relevance. Venture capital interest in Solana-based projects also remains robust, signaling that long-term builders have not been deterred by recent price action.
Range-bound consolidation likely before a clearer breakout
Looking ahead, Solana is expected to remain in a consolidation phase as it digests recent losses. If support at $125 holds and macro sentiment improves, a retest of the $145–$150 resistance area is possible in the coming days. However, upside momentum may be limited unless broader crypto markets turn decisively bullish.
In a bearish scenario, a breakdown below $125 could expose SOL to further downside, with the next major support at $100. This level is not only psychological but also represents a 50% retracement of the broader rally that started in late 2023. Buyers are likely to step in aggressively at that zone.
The SOL-to-ETH price ratio on Binance has surged to a record 8.1%, up nearly 40% from the start of the year, driven by a 10% weekly gain in Solana and a 10% drop in Ethereum. Meanwhile, Ethereum’s underperformance is further highlighted by the ETH-to-BTC ratio falling to 1.9%, its lowest since early 2020.
