Solana Price Holds Strong Above $106 Support, Can It Sustain Momentum?
The Solana price has demonstrated resilience by maintaining strong support above $106. The recent recovery trend indicates that buyers have enough demand pressure to continue pushing the price forward. However, the key question is whether this momentum can be sustained if Bitcoin triggers a new correction from $52,000.
Sustainable Recovery Sets Solana Price Leap to $125
An analysis of the daily chart reveals that Solana experienced a quick rebound from its last correction phase, with buyers regaining control at the $79 support level. This V-shaped recovery demonstrates aggressive momentum, resulting in a 42% increase in price within a month.
- The recovery has already recouped 50% of the losses from the previous pullback, indicating continued buyer dominance.
- An ascending trendline is providing dynamic support and fueling the bullish march.
If the recovery momentum persists, there is potential for a 13% upswing to reach the neckline resistance of the cup and handle pattern at $125.
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