TLDR:
- TD Sequential flashes buy signal on Solana’s SOL 12-hour chart after 13% weekly drop
- Key support identified at $150, with upside resistance between $161 and $167
- SOL trading volume tops $3.23B, showing strong activity despite recent losses
- Traders prepare for bounce or further drop to $130 if $150 fails to hold
Solana appears positioned for a potential recovery after recent market turbulence sent the cryptocurrency tumbling from its late-May highs.
Technical analysts are spotting encouraging signs in SOL price charts that suggest the downward momentum may be losing steam. The digital asset has found support near critical price levels, sparking discussion among traders about possible buying opportunities.
Market observers point to specific technical indicators that historically signal trend reversals. Current trading data shows Solana attempting to stabilize after a challenging week of price declines.
Technical Indicators Flash Buy Signals for SOL
Cryptocurrency analyst Ali has identified a technical development in Solana’s price action.
The TD Sequential indicator displayed a buy signal on SOL’s 12-hour chart, marking what could be the end of the recent bearish trend. This technical pattern emerged after Solana dropped from approximately $172 to near $152 between May 27 and June 1.
#Solana $SOL looks ready to bounce with the TD Sequential flashing a buy signal on the 12-hour chart! pic.twitter.com/C3uVWwyZPj
— Ali (@ali_charts) June 1, 2025
The indicator flashed a number 9 setup, which technical analysts interpret as a potential exhaustion point for downward price movement.
Historical data suggests this pattern often precedes price reversals or relief rallies in cryptocurrency markets. The signal appeared as smaller candlestick bodies formed around the $155 level, indicating reduced selling pressure.
Current market data reveals Solana trading at $153.18, representing a modest decline of 0.68% over the past 24 hours. However, the cryptocurrency has experienced a more substantial 13.31% drop over the previous seven days.
Trading volume reached $3.23 billion in the last 24-hour period, suggesting continued market interest despite the price weakness.
The token established a weekly trading range between $151.03 and $178.72, with immediate support identified at $152.71 and resistance at $158.62. Market participants are closely monitoring whether SOL can maintain its position above the $150 psychological support level.
SOL Traders Prepare for Multiple Scenarios
Professional trader QuantJB has begun accumulating swing and spot positions in Solana while preparing for various market outcomes. The analyst identified a potential drop target in the $130 to $140 range if the previous low of $150 fails to hold as support.
This approach reflects a measured strategy that accounts for both bullish and bearish scenarios. QuantJB indicated plans to reduce positions if SOL breaks below critical support levels, demonstrating risk management principles in volatile market conditions.
Started to scale in on swing/spot positions.
If the prev low of 150 doesnt hold we can get a move into the white box before a bounce.
This is where i would be looking to unstable once again. pic.twitter.com/gDq9GkXpX3
— JB (@QuantJB) June 2, 2025
Should buyers emerge, technical analysts suggest SOL could target resistance zones between $161 and $167. Market participants emphasize the importance of volume confirmation and decisive price action to validate any potential reversal scenario.
The post Solana (SOL) Price Forecast: TD Buy Signal Sparks Hopes of Rebound appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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