Solana Price Analysis of March 11, 2025: SOL Recovered to $124 After $112 Crash, Will the Bullish Momentum Continue?

Are you tracking SOL price today and wondering about its next move? Solana price analysis reveals that despite recent attempts at recovery, SOL remains in a volatile state after the market downturn. The past 24 hours saw a downward channel, a breakdown, and an upward move, keeping traders on edge. With the Solana price prediction highlighting key resistance at $124.03 and support at $112.01, the market is at a crucial turning point. Will SOL break through resistance and regain momentum, or is another pullback on the way? Let’s dive into the latest price action and key indicators shaping Solana’s next move.

Solana Reversal from $131.58 High Sparks Breakdown Below Support

The trading day of March 10th started with a slight downward move, with the price finding support at $124.03. At 00:40 UTC, a golden cross appeared on the MACD line, initiating an upward channel. The price fluctuated within this upward move, but a death cross at 2:50 UTC suggested a potential reversal. While the price showed minor downward fluctuations, the upward trend continued. At 9:10 UTC, another golden cross on the MACD pushed the price up. This upward momentum led to an overbought situation at 9:20 UTC, which drove the price to resistance at $131.58, marking the day’s high. 

Chart 1, Analyzed by ShwetaCW, published on TradingView, March 11, 2025

The price fluctuated with another overbought condition at 12:00 UTC, and soon after, a death cross at 12:25 UTC triggered a downward channel. By 14:15 UTC, the RSI indicated an oversold situation, leading to a breakdown from the support level into a new trading range. 

Based on Solana price analysis, a golden cross at 15:05 UTC pushed the price up, but it struggled at the support level before falling back down, confirming the breakdown with oversold conditions at 17:10 UTC and 17:45 UTC. Another golden cross at 19:10 UTC suggested an upward move, yet the price remained in a moderate trading range, with a slight upward push while the downward channel persisted into the next day.

SOL Drop to $112 Followed by Recovery Towards $124 Resistance

The trading day of March 11th started with a death cross, triggering a sharp decline in SOL’s price. An oversold situation at 00:40 UTC pushed the price to find new support at $112.01. However, a golden cross on the MACD at 1:50 UTC signaled the start of an upward trend. The price moved upward moderately, while RSI shows overbought at 2:20 UTC and 3:10 UTC. The buying pressure persisted, leading to another overbought at 5:10 UTC, bringing the price close to the $124.03 resistance level, the previous support. Despite this recovery, SOL remained within its current trading range, struggling to break out decisively.

Solana Market Prediction

In the past 24 hours, Solana price analysis indicates a mix of volatility, with a downward channel followed by an upward trend. If SOL price today keeps its momentum, it could break the $124.03 resistance, previously a key support level, and aim for $131.58. However, failure to surpass $124.03 may result in consolidation within the current range or a potential breakdown toward the $112.01 support. Solana price prediction suggests that traders should watch for a confirmed breakout or rejection at resistance to gauge the next move. As market sentiment remains crucial in determining SOL’s short-term direction.