Solana Price Might Bring a Rebound After a Harsh March
The post Solana Price Might Bring a Rebound After a Harsh March appeared on BitcoinEthereumNews.com.
Key Takeaways: Solana dropped by 6.8% in March, with a sharp decline on the 28th. Open interest on SOL now exceeds $5 billion, signaling strong trader activity. Resistance levels at $160–$180 could determine the next price move. Some analysts predict a 102% increase, pushing SOL toward $263 by July. The next few weeks will be crucial in determining whether Solana can stage a recovery. Solana News: SOL Price Faces a Tough March March has been a challenging month for Bitcoin, altcoins, and the entire cryptocurrency market. Solana, one of the most promising altcoins, has not been spared. The SOL token suffered a significant decline, dropping by 6.8% overall in March, with a particularly sharp fall of over 7% on the 28th. This downturn brought Solana’s price below $130, raising concerns among investors. SOL/USD 1-day chart – TradingView The declining trading volume throughout the month signals a weakening momentum. This sudden drop has dashed many optimistic forecasts, particularly for those who expected Solana to break out to new highs. Many traders now wonder whether this downturn is just a temporary correction or the start of a deeper retracement. Solana Price and Market Sentiment: A Temporary Setback or a Bigger Trend? Crypto analysts remain divided on Solana’s trajectory. Some believe the market is experiencing a “mini bear market” within a broader bullish cycle. Bitcoin’s dominance and overall market weakness have contributed to Solana’s struggles. Investors are becoming more cautious, waiting for stronger confirmation before re-entering the market. Despite the decline, Solana still holds strong technical support levels. Many traders are watching to see whether these supports will hold, or if further downside movement will lead to a new wave of selling pressure. The coming weeks will be crucial in determining whether SOL can recover or if lower levels, such as $120 or…
Filed under: News - @ March 30, 2025 12:11 pm