Is Solana (SOL) Price Ready to Rebound as a Key Indicator Flashes a “Buy” Signal?

The price of Solana has been going down for weeks now. But we might be seeing a change soon. Crypto expert Ali posted on X about a buy signal

Crypto traders might be spotting a key indicator flashing a "buy" signal for Solana (SOL) as the token faces potential support.

Solana Price Showing Signs Of Recovery As TD Sequential Flashes '9' Signal On 4-Day Chart

As reported by Crypto trader “Ali” on X, the TD Sequential indicator has now flashed a “9” signal on Solana’s 4-day chart. The indicator, which is known for identifying trend exhaustion, has reached its ninth increment in the current downtrend.

Historically, this signal has been associated with either trend reversals or at least short-term relief rallies. If Solana’s price manages to stay above the $135 level, it might set the stage for a recovery rally.

However, it’s crucial to note that this signal alone might not be sufficient to confirm a bullish reversal. To observe a more decisive shift in momentum, traders would need to see sustained buying pressure and a break above key resistance levels.

Without stronger interest from buyers, the risk of further declines remains present. Should selling pressure continue and the current support fails to hold, Solana could fall to the $130 level before encountering stronger bids.

Where Is Solana Price Headed Next?

The price of Solana has been on a downward trend for weeks now, hitting lower lows in its pattern. As it moves toward the $135-$140 support area, buyers appear to be showing some interest.

The latest price movements suggest that sellers might be losing some steam, which could lead to a bounce-back in the coming days.

Technical patterns also indicate that the downward pressure on Solana might be easing up. The most recent candle, despite being bearish, is smaller compared to previous ones, which signals potential exhaustion in the downward trend.

If Solana’s price manages to hold above this support zone, it could open the door for an upward move toward the $150-$160 range, where the next key resistance levels are located.

However, if the support fails and the price drops below $130, it could pave the way for further declines in the short term.

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