Despite the recent crash, Solana (SOL) price has rebounded quickly and trades near $150

Despite the recent crash, Solana (SOL) price has rebounded quickly and trades near $150. However, a look at the high time frame chart shows that SOL could hit $400 or even double from here to reach $800.

Despite the recent crash, Solana (SOL) price has quickly rebounded and trades close to $150. However, a look at the high time frame chart shows that SOL could hit $400 or even double from here to reach $800. To do this, Solana price needs to clear one critical resistance level, after which it could kickstart an exponential rally to the aforementioned levels.

Solana (SOL) Price Today

After Bitcoin (BTC) slipped 2.37% on Wednesday, altcoins, including Solana (SOL), also crashed. Despite the sudden drop, SOL price has shown incredible resilience, leading to a 6.44% recovery bounce since then. As of today, the token trades around $150.

(Chart by TradingView)

A closer look at the weekly chart shows Solana price converging between two trendlines connecting the lower highs and higher lows formed since early 2024 and 2023, respectively. During this uptrend, SOL’s value has exploded from $11 to nearly $300, roughly 27x. However, a look at the 50-week and 200-week Simple Moving Averages (SMAs) reveals a key bullish outlook.

The 200-week SMA at $95.20 was a stable support for Solana price when it crashed in early April. A bounce from this level has pushed SOL’s value up by 56%. Likewise, the 50-week SMA that was a support in second half of 2023, flipped into a resistance when SOL price crashed below it in February 2025. Hence, a reclaim of this level hints at bullish Solana price prediction.

Solana (SOL) Price Analysis: What’s Next For The Token?

Assuming SOL price reclaims the 50-week SMA at $168 or roughly $170, it would denote a resurgence of bulls. Since this was a key support flipped into a resistance, a reclaim will boost sentiment and likely attract buyers. This move would denote the start of the bull run. Hence, a further spike in bullish momentum coupled with an improved crypto market outlook could propel this Ethereum-killer to the top of the current range at $300.

If Solana price manages to overcome the inclined trendline, the next key take profit levels include –

$400: This is the final resistance level before the exponential rally to $800 could begin.

$800: This is double the current Solana price and represents a significant upside potential.

Solana price needs to break through the 50-week SMA and maintain gains above it for several weeks to confirm a bullish reversal. If Solana price manages to do so, it could set the stage for a strong rally in the second half of 2025.

Other Factors That Affect SOL Price’s Uptrend

To conclude, Solana (SOL) ‘s technical outlook looks primed for a bullish reversal. However, investors need to pay attention to the fundamentals and macroeconomic outlook for confirmation. Here are some key events that could disrupt this optimistic outlook and triple-digit targets for the SOL price.

Frequently Asked Questions (FAQs)

1. What is Solana's current price?

Solana (SOL) price is currently trading at $149.6 and has dropped by 0.66% over the past 24 hours.

2. What is the key resistance level for Solana's price?

The key resistance level for Solana's price is the 50-week SMA, which is currently at $168.

3. What are the potential targets for Solana's price if it breaks through the resistance?

If Solana price manages to break through the 50-week SMA and maintain gains, it could continue rallying to the next resistance level at $300. From there, a breakout could propel this token to $400 and later open the door for a move to $800.