Global economic tensions and trade policy uncertainties continue to create volatility in the crypto market, where Sol navigates these challenges better than many alternatives.

Solana Token’s price rose more than 4% on Thursday, while the wider market meter, Coindesk 20, increased approx. 3%.

The $ 125- $ 127 range has emerged as a critical support zone that successfully rejected several downward trials, while the range $ 133.50- $ 133.60 represents considerable resistance, according to Coindesk Research’s technical analysis model.

Blockchain data shows over 32 million sun (more than 5% of the total supply) accumulated at the $ 129.79 level, establishing them as a crucial rotation point for future price action.

Technical analysis highlights

• Sol established a well-defined support zone between $ 125-127, which successfully rejected several downward attempts.
• The price shows strong elasticity and restores 4.5% from its 16th April low of $ 123.64 to $ 135.57, establishing a clear increase.
• Canada launched the first place Solana ETFs in North America on April 16, issued by asset managers, including 3iq, purpose, Evolve and CI, increasing the institutional interest.
• Solana has regained the top place in DEX activity and surpassed Ethereum after a 16% gain over seven days, with the total value locked (tvl) increased by 12% to $ 7.08 billion.
• Volume analysis shows particularly strong accumulation during April 16, afternoon afternoon rise, with over 3 million units traded as the price broke through the $ 130 resistance level.
• Fibonacci Retracement from April 14 High ($ 136.01) until April 16 Low suggests that the recent rally has regained the critical level of 61.8%.
• In the last 100 minutes of trade, Sol experienced a significant downward correction and fell from $ 134.11 to $ 130.81, representing a 2.5%decrease.
• Sales were intensified around 14: 03-14: 07, when volume spiked dramatically to over 92,000 units over a single minute candle.
• A strong resistance zone for $ 133.50- $ 133.60 rejected multiple recovery attempts.
• A remarkable breakdown occurred at $ 132.00 support level, triggering cascading liquidation.
• Prices have now been withdrawn beyond the 78.6% Fibonacci level, suggesting potential continuation against $ 125-127 support zone if Bearish Momentum persists.

Disclaimer: This article was generated with AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy. This article may include information from external sources listed below when appropriate.

External references:

1. “Solana’s cost base is changing sharply: $ 129 appears as a key pivot zone,” Published April 16, 2025.
2. NewsBTC, “Solana repeats Bearish Breakout Zone – $ 65 Goals still in play?” Published April 17, 2025.
3. COINTELEGRAPH, “Why is Solana Price up this week?” Published April 12, 2025.
4. Cryptopotato, “Solana (Sun) jumps with 7% daily, Bitcoin (BTC) Eyes $ 85K again (Market Watch),” Published April 17, 2025.
5. COINTELEGRAPH, “SOLANA PRICE has risen by 36% from her crypto market intersection – is $ 180 SOL NEXT STOP?” Published April 16, 2025.