Solana (SOL) Price Action Stretched Above the Key $120 Zone, Targeting the $130 Resistance

As Solana (SOL) price action went above the key zone at the $120 level, the $130 zone proved to be a major barrier that need a break through for continued uptrend.

As Solana (SOL) price action went above the key zone at the $120 level, the $130 zone appeared to be a major barrier for the crypto to break through for continued uptrend.

Solana Price Action and Prediction

Looking at the weekly time frame chart on SOL, it showed a buying potential as the TD Sequential showed after flashing a buy signal. The bullish signal appeared on the price level of $129.66.

Historically, TD Sequential buy signals suggest upcoming bullish price trends after durations of downtrend.

After SOL dropped from its February peak the indicator suggested a potential end to the ongoing bearish trend and created a purchase signal.

SOL could see an improved buyer perception if it sustained its price above the $128 support mark.

A successful upward movement from this region could drive SOL prices toward $149 for the first time since recent price declines showed rejection.

Despite this positive indicator presentation, there was also a warning sign as traders needed careful evaluation.

A failure of Solana to stabilize above $128 support level could create conditions for bearish action and potential price movement toward $115 support which showed weekly lows.

Future traders must watch the approaching weekly candle for this bullish confirmation to take effect.

The bullish setup could strengthen if SOL sustained a rise above $136 but such growth would be challenged if it failed to return above $136 since this could lead to sustained negative price pressure.

This meant it was essential to carefully track these key price levels as they provided critical information for predicting SOL’s future directional movement.

Potential Major SOL Purchase

To add to the potential bullishness, the Managing Partner of Multicoin Capital Kyle Samani borrowed 7 Million USDC from Kamino which he then transferred whole to Coinbase.

The substantial investment positioning of Multicoin regarding Solana bred speculation that Samani could use his obtained USDC to acquire more SOL tokens.

A confirmed acquisition of this size would lead to powerful buying pressure on SOL which may increase its market price in the near future.

The expectations regarding these funds moving into SOL would likely decrease if Samani does not invest them into SOL.

This might result in both a risk of sell-offs alongside reduced bullish momentum during the short term.

Usually the market dynamics and investor sentiment showed positive responses when major investors made substantial acquisitions, thus immediately resulting in price increases.

All investors paid close attention to Samani’s actions as this could strongly influence Solana’s temporary price direction when he performed actual transactions.

Trending Tokens on Socials

Lastly, the crypto market focused on Solana as its most followed trend because its innovative role in the Infinite Money Glitch (IMG) token enabled users to receive SOL rewards each five minutes.

Solana gained more significance by linking its rewarding mechanism to increasing real-world payment system adoption.

Key Opinion Leaders (KOLs) from influential voices started to mention Solana while connecting it to stable liquidity and increasing market value.

Investors continue to trend mentions of “holdings,” “liquidation” alongside “mantra” indicating their interest in asset management as well as decentralized finance operations and OM token destabilization fears.

Active discussions about speculative and ecosystem-based activities appear in the maintained mentions of NFTs aped and mcp. However, SOL remained the spotlight.