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Clearing Critical Level May Propel Solana price to $300 or $900 – Crypto News

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Clearing Critical Level May Propel Solana price to $300 or $900

Despite the recent crash, Solana (SOL) price has rebounded quickly and trades near $150. However, a look at the high time frame chart shows that SOL could hit $400 or even double from here to reach $800. To do this, Solana price needs to clear one critical resistance level, after which it could kickstart an exponential rally to the aforementioned levels.

Solana (SOL) Price Today

After Bitcoin (BTC) slipped 2.37% on Wednesday, altcoins, including Solana (SOL), also crashed. Despite the sudden drop, SOL price has shown incredible resilience, leading to a 6.44% recovery bounce since then. As of today, the token trades around $150.

SOL Price Needs to Flip This Key Level for $300 & $900 Targets

The weekly chart shows Solana price converging between two trendlines connecting the lower highs and higher lows formed since early 2024 and 2023, respectively. During this uptrend, SOL’s value has exploded from $11 to nearly $300, roughly 27x. However, a look at the 50-week and 200-week Simple Moving Averages (SMAs) reveals a key bullish outlook.

The 200-week SMA at $95.20 was a stable support for Solana price when it crashed in early April. A bounce from this level has pushed SOL’s value up by 56%. Likewise, the 50-week SMA that was a support in second half of 2023, flipped into a resistance when SOL price crashed below it in February 2025. Hence, a reclaim of this level hints at bullish Solana price prediction.

Clearing Critical Level May Propel Solana price to $300 or $900
SOL/USDT 1-week chart

Bull Run Targets For Solana (SOL)

Assuming SOL price reclaims the 50-week SMA at $168 or roughly $170, it would denote a resurgence of bulls. Since this was a key support flipped into a resistance, a reclaim will boost sentiment and likely attract buyers. This move would denote the start of the bull run. Hence, a further spike in bullish momentum coupled with an improved crypto market outlook could propel this Ethereum-killer to the top of the current range at $300.

If Solana price overcomes the inclined trendline, the next key take profit levels include –

  1. The 161.8% Fibonacci extension level of $600.
  2. The 200% Fibonacci extension level of $900
  3. In a highly bullish case, SOL could even hit $1,853, which is the 261.8% Fibonacci extension level.

Other Factors That Affect SOL Price’s Uptrend

To conclude, Solana (SOL) ‘s technical outlook looks primed for a bullish reversal. However, investors need to pay attention to the fundamentals and macroeconomic outlook for confirmation. Here are some key events that could disrupt this optimistic outlook and triple-digit targets for the SOL price.

  1. Trump’s tariff war has put unwarranted pressure on America’s economy, leading to widespread panic in the stock market. As a result, gold has skyrocketed to new highs.
  2. The Fed’s decision is another critical gear in this economy that could influence the prices of stock and crypto markets alike. Although Trump’s tariff war has pressured the Fed to cut interest rates, Fed Chair Jerome Powell hasn’t done it yet. If this continues, it could result in a recession. Online betting platform Polymarket shows the odds of a US recession in 2025 have hit 63%.
  3. Bitcoin (BTC) sets the tone of the crypto market, and BTC is affected by the above two reasons. While Bitcoin is considered a safe-haven, uncorrelated, and inflation hedge asset, but it also behaves as a risk asset that, at times, has huge correlation with the stock market. In case the US slips into a recession, BTC’s behaviour will decide if Solana price will rally or collapse.

The post Clearing Critical Level May Propel Solana price to $300 or $900 appeared first on CoinGape.

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