Is Solana (SOL) Finally Done Falling? The Shocking Price Analysis You Need to See!

by

So, here’s the deal: Solana’s price just took a nosedive to $123, not quite hitting the dramatic $121 bottom we all secretly hoped for, but still… not terrible, right? (Well, except for all the people who panicked.) There might be a double bottom here, which could mean-wait for it-the next big rally is about to kick off. Brace yourselves! 🚀

Is $SOL Finally Getting a Double Bottom?

Let’s break it down, shall we? On the 4-hour chart, $SOL has been stuck in a depressing descending channel. It’s like the universe was telling it, “You’re just not allowed to go up.” But then-plot twist-it hit this massive ascending trendline, and there’s this gorgeous horizontal support level too. It’s almost like the price was just waiting for an excuse to start climbing again. 🙄

Right now, $SOL is doing battle, trying to stay above those two crucial supports. The Stochastic RSI is on the rise, though, which means upside momentum is looking more and more like a real thing. Don’t panic, it’ll probably break free any minute now. 🏃‍♂️💨

What’s Next for $SOL? The Price Targets You Should Be Watching

Looking at the daily chart, we get a glimpse of what could be happening if, and only if, $SOL manages to get its act together and stay above those critical support levels.

Once it gets comfortable above that support zone, expect the following in order: resistance at $142 (a classic), the top of the descending channel (yay, closure!), $156 horizontal resistance (sigh, more resistance), and then-wait for it-$172. If it hits that, folks, we’re officially in trend reversal territory. 📉➡️📈

The RSI is also giving us some hope-it’s broken through its downtrend and is likely testing the breakout. If this holds up, you better believe that price is going to follow suit and zoom upwards. Fingers crossed! ✨

$SOL: The Weekly Chart Is Looking Like a Party

Alright, let’s talk about the weekly chart, where things are REALLY starting to look up. The $126 horizontal support level is holding strong, and guess what? It’s meeting the mighty ascending trendline. Do I smell a massive bounce here? Yep. I do. 🤞

If you look at the Stochastic RSI down there (look, it’s your friend), it’s looking ready to cross back to the upside. And that, my friends, is a surefire sign that the bullish party might just be starting. It’s like waiting for the most awkward person at a party to finally crack a joke, and then suddenly everyone’s laughing. 😂

But wait, there’s more! The 2-week Stochastic RSI is coming down fast. It’s like it’s preparing for something big. If it bottoms out soon, get ready for some major price action to follow. 💥

If $SOL hits $175, the next big target is $253-yes, you heard me right. Get ready for what could be an absolute explosion in the price. Buckle up! 🔥🚀

Read More

2025-12-02 15:23