Solana Price Eyes $147! Will SOL Breakout or Crash Below $112?

After recovering from significant support, the Solana price is trading above $112 even under the stress of a major token unlock. While analysts detect indications of a possible double-bottom reversal shaping, the pattern won’t confirm until SOL clears $147 resistance. Although the last $200 million release caused worries of a sell-off, current price action has been consistent up to now. Close attention is being paid by traders as the market determines its next steps. The Solana token is now concentrating on maintaining support and testing key resistance.

Solana Price Analysis & Market Signals

Highlighted by analyst Scott Melker, a critical support area, the Solana network’s price jumped sharply off the $112 level. Though validation requires a clear break above $147, he pointed out the configuration as a possible double bottom. The first resistance to monitor is $130. The timing of this rebound is what matters. Staked SOL worth more than $200 million recently became unlocked, setting the greatest such event till 2028. SOL stayed above $100, indicating that lots of the possible selling had already been accounted for despite concern of downward pressure.

This was the final significant challenge, some traders believe, and therefore they expect steadiness going forward. Others are more wary and caution that another dip toward sub-$100 prices could result from a failure to hold above $112. The next several sessions are vital. Momentum would turn bullish if SOL breaks over $130 and starts heading toward $147. Solana price stays range-bound till then, responsive to both technical indicators and market sentiment post-unlock. Let’s take a look at the Solana price to see what Solana is doing in a smaller timeframe.

Solana Price on April 5, 2025

Solana token (SOL/USDT) is stabilising around $120.96 and encountering intense opposition at $124. Momentum is not assured even following a rebound from the $112 level. The RSI at 42.74 points to neutral circumstances, but the MACD remains in the negative territory, indicating bearish pressure. If bulls drive SOL past $124, a breakout might follow to $126-$130. However, a lack of upkeep at $120 might cause a drop toward $115-$112.

Chart 1: Analysed by vallijat007, published on TradingView, April 5, 2025 

The fragility of the market structure still holds, and the next step will depend on trading volume. A clear final top above $126 could change attitudes positively, and maybe aim for $135. But if sellers regain control, the Solana price could dip to $112 or below. Before opening fresh trades, traders should keep an eye out for volume spikes and trend confirmations. SOL is in a sensitive field still; volatility is to be expected in the next few days.

Conclusion

The Solana network is resting in a faint range from $112 to $124; technicals show indecision. Real confirmation needs a shift above $126 and eventually $147, so though the $112 bounce indicates strength. Although the latest token unlock did not set off a fire sale, the market remains wary. Key indexes like RSI and MACD indicate mixed momentum. Traders need to closely monitor resistance levels and volume. Price activity will probably remain erratic and sensitive to general market conditions till SOL bursts out or falls apart.