Should You Buy Solana Now or Wait?

2

Solana (SOL) has entered a critical phase as the price hovers around the $117–$120 zone. After weeks of downward pressure, traders are asking the big question—has SOL price finally bottomed out, or are we in for another leg lower? Let’s dive into the daily and hourly chart setups, examine key indicators like moving averages, ADL (Accumulation/Distribution Line), and trend dynamics, and determine what’s next for Solana.

Solana Price Prediction: What Does the Daily Chart Reveal About the Bigger Trend?

SOL/USD Daily Chart- TradingView

On the daily timeframe, Solana is firmly in a downtrend. The Heikin Ashi candles confirm persistent bearish momentum, forming a sequence of lower highs and lower lows. The price has broken below all major moving averages (20, 50, 100, and 200 SMA), which is a strong sign that sellers still dominate the market. The 200 SMA (around $182) has acted as a macro resistance, while the 50 SMA and 100 SMA, previously providing short-term support, have now turned into resistance zones.

The MA ribbon compression above current price levels—where the 20, 50, and 100 SMAs are clustered between $128 and $176—suggests Solana has to overcome significant resistance if bulls want to regain control. Until we see a breakout above these levels, any bounce is likely to face selling pressure.

Moreover, the ADL (Accumulation/Distribution Line) is showing a marked decline, indicating distribution rather than accumulation, suggesting that even during recent relief rallies, smart money has been offloading positions. This confirms the bearish outlook unless we witness a reversal pattern accompanied by a rising ADL.

Does the Hourly Chart Show Signs of a Short-Term Rebound?

SOL/USD 1 Hr Chart- TradingView

Zooming into the 1-hour chart, things look equally bearish, but more nuanced. SOL price attempted to break out on April 4–5, reaching intraday highs near $127. However, this breakout failed near the 200 SMA on the hourly chart, a level it has failed to reclaim multiple times, cementing it as a dynamic resistance.

Since then, the price fell sharply to $117, with strong red Heikin Ashi candles returning and breaking below short-term SMAs. The 20 SMA ($121.19) has crossed below the 50 SMA ($121.40), another bearish sign, indicating downward momentum in the short term.

The hourly ADL is flat to declining, indicating there's little to no accumulation happening at these levels despite volatility, and that buyers are reluctant to step in until stronger support is confirmed.

Where Are Key Support and Resistance Levels?

Immediate support lies near $116, the current local low. A break below this could send SOL price toward psychological and technical support around $110 and even $100, levels that have acted as previous bounce zones.

On the upside, bulls need to reclaim $121–$123 (50 and 100 SMA on hourly) before even thinking about retesting $130. The real battle zone is around $140–$145, where daily SMAs converge and could invalidate the broader downtrend if broken with volume.

Are Indicators Pointing Toward Oversold or Still Bearish?

Although the RSI wasn’t directly visible in the chart you provided, the Heikin Ashi structure, volume weakness, and falling ADL collectively suggest that SOL price isn’t yet oversold enough to justify a strong reversal. The market seems to be lacking a bullish catalyst, both fundamentally and technically, to push back against prevailing selling pressure.

Any short-term bullish divergence would need confirmation from rising ADL, long-tailed Heikin Ashi candles, or a MACD crossover (if analyzed), none of which are currently apparent.

–> Wanna trade Solana? Now is the perfect time, especially that the market is consolidating before a volatile period. Click here to open an account with Bitget using our link and benefit from 100% transaction fee rebates in BGB on your first transaction <–

What's the Short-Term vs Long-Term Solana Price Prediction?

Short-Term Outlook (Next 48–72 hours): Expect high volatility. If $116 fails, $110 could be tested fast. However, if bulls defend $116 and push back above $123, there’s room for a bounce toward $130–$135. Momentum indicators need to support that view, and volume must rise.

Long-Term View (Next 30 Days): Unless Solana price breaks above the $140–$145 resistance zone on the daily chart with a clear reclaim of the 100 and 200 SMA, the long-term bias remains bearish. If support around $100 fails in the coming weeks, Solana could revisit $88–$90, last seen in Q4 2024.

Solana Price Prediction: Is SOL a Buy, Hold, or Sell Right Now?

Solana price is not in an ideal buy zone for swing traders just yet, as technicals point to a bearish continuation unless a clear reversal structure emerges. Short-term traders may find quick opportunities near the $116–$120 range but should manage risk aggressively.

Bottom line: Until Solana price reclaims key moving averages and shows bullish accumulation on the ADL, it’s better to stay cautious. But once $130 is broken with strength, the bulls could finally have their moment.

Original Article