Solana (SOL) Shows Signs of Renewed Strength After Rebounding from $100 Support

Solana (SOL) is showing signs of renewed strength after rebounding from a key support level at $100, climbing quickly back to $120 and currently eyeing resistance at $125.

Solana (SOL) price is showing signs of renewed strength as it rebounds from a key support level at $100 and quickly climbs back to $120. The swift recovery has sparked bullish sentiment, but a shadow looms over the rally—FTX recently unstaked over 186,000 SOL, worth approximately $22 million, just ahead of its May creditor repayments.

SOL Price Recovers from Market Turbulence—Is It Out of the Woods Yet?

Solana has shown resilience throughout recent market unrest. A brief two-day battle at the $100 psychological barrier saw bulls defend the line fiercely, setting the stage for a sharp rebound that propelled SOL back into the $120 zone.

The price is now consolidating gains and attempts to claim $125, a crucial short-term resistance. If bulls prevail, analysts expect a clear path to $135—possibly even retesting the $150 zone with sustained broader market strength, especially with Bitcoin (BTC) remaining above $81,000.

FTX Unstaking Ignites Concerns of Hidden Sell Pressure

But the pressing question on traders’ and investors’ minds is: What will FTX do with its SOL? The defunct crypto exchange recently unstaked a substantial sum of 186,000 SOL, a move that has raised eyebrows within the crypto community.

With FTX’s creditors set to be repaid in May, many anticipate that these tokens could be sold off, potentially sparking a selloff.

While unstaking doesn’t automatically translate to selling, the timing of this move is crucial. If even a fraction of those tokens are liquidated, it could inject sudden volatility into Solana’s price action—especially as it's currently contained within a key resistance zone.

Community Poised for Impact: Bullish Momentum vs. Selloff Risk

Solana’s resilience is evident in its recovery from sub-$10 lows post-FTX collapse to a new all-time high (ATH) of nearly $300. Its ability to rebound from catastrophe has earned the loyalty of investors and developers.

However, the legacy of FTX still hangs over the narrative. FTX’s unstaking activity and the impending May creditor payments are critical factors that could swiftly alter the bullish bias.

Current market sentiment leans cautiously bullish with no immediate signs of large-scale selling from FTX and traders anticipating momentum confirmation above $125. But any indication of FTX-linked wallets transferring SOL to exchanges could rapidly reverse that optimism.

Should You Be Worried About the SOL Price Rally?

In the short term, there's no need for worry—but traders must remain vigilant. As long as Solana holds above $115-$120 and broader market conditions remain favorable, the uptrend has room to continue.

However, the movements of FTX’s SOL holdings must be monitored closely, especially as May approaches. A large-scale selloff is still a possibility, but not a certainty.

Until then, Solana bulls have the upper hand—but they’re walking a tightrope over deep liquidity pools.