Solana (SOL) Is Making Headlines Again as It Swings Up and Down

After President Donald Trump announced the Crypto Strategic Reserve with a list including SOL

Solana (SOL) is making headlines again as it swings up and downswinging, leaving traders wondering if it will ever hit $200 or drop lower.

The cryptocurrency saw a big pump on March 2nd after President Donald Trump announced the Crypto Strategic Reserve with a list including SOL, along with XRP, Bitcoin, Etheurm, and Cardano. Trump stated that he wants the U.S. to lead in crypto.

Investors took the news as a bullish sign; they pumped the coin, but not for long, as it started to drop in value once again

Right now, Solana is trading at $145.14, moving between $140.43 and $149.49 in the last 24 hours. It’s still far from its all-time high of $294.33 in January 2025, but some analysts believe it could get there again. However, analyst Courious broke down the price levels to watch out for.

According to the analyst, Solana is likely to remain within the $153 and $138 price range. He highlighted $118 to $125 as a strong support zone that the price is likely to respect. But if SOL drops below $115, it could crash to $75 or $80. On the flip side, a break above $155 might push it to $180 or $185.

Another trader, TB21Crypto gave a similar analysis, adding that $126 is a critical level for Solana. If Solana loses this support, it could lead to a bigger downtrend.

“The coin has shown extremely strong price action in this bull market cycle. It is still holding the support zone at $126. If SOL loses this level, which aligns with the 0.236 Fibonacci retracement, a downtrend could begin,” TB21Crypto said.

Meanwhile, Analyst Marzell is extremely bullish with his prediction as he continues to follow Solana's price movements closely. He points out that SOL has already bounced back significantly, surging by 45% from its support level of $120.

This rally, Marzell believes, will continue for a while and sees a possible 90% to 162$ surge with price targets of $296.38, $339.55, and $384.56.

Moreover, technical indicators like the Relative Strength Index (RSI) on the weekly time frame are showing that the coin is about to enter an oversold condition, which means the selling pressure might soon be over, and the bulls could probably take over.

However, the risks still remain, and nothing is certain. The next few days will tell what happens next.