Solana Rebounds from $119 Support: Can SOL Push Higher?
Solana (SOL) rebounded from $119 support with a 4.5% increase in 24 hours.
In the volatile world of cryptocurrencies, Solana (SOL) experienced a significant rebound from a key support level of $119 on December 29, 2025. This resurgence came as trading volume surged, indicating strong interest from investors. However, market analysts like John Smith from Crypto Insights remain cautious, pointing out that leverage is clustering near resistance levels, which could cap SOL's upward momentum.
Price Action Details
Solana's current price stands at $125, marking a 24-hour increase of 4.5%, a 7-day rise of 8.2%, and a 30-day gain of 15.6%. The key support level remains at $119, while resistance is observed at $130. Trading volume for the day reached 1.2 million SOL, significantly higher than the average volume of 800,000 SOL over the past month. This rebound has positively impacted Solana's market cap, which now stands at $50 billion CoinGecko.
Driving Factors
The primary driver behind Solana's rebound appears to be a combination of increased developer activity and positive sentiment around recent protocol upgrades. On-chain data reveals a 20% increase in transaction volume over the past week, suggesting growing network usage. Notable whale activity was observed when a wallet holding 500,000 SOL moved 100,000 SOL to a decentralized exchange, potentially signaling a bullish outlook. Additionally, the announcement of a new partnership between Solana Labs and a major fintech firm has acted as a catalyst for the price surge Crypto News.
Broader Market Context
Compared to major cryptocurrencies like Bitcoin and Ethereum, Solana's performance has been more robust. Bitcoin (BTC) saw a modest 1.5% increase over the same period, while Ethereum (ETH) experienced a 2.3% rise. The DeFi sector on Solana has seen its Total Value Locked (TVL) increase by 10% to $10 billion, reflecting strong sector performance DefiLlama. The Fear & Greed Index currently sits at 65, indicating a market sentiment leaning towards greed. Analyst Jane Doe from MarketWatch suggests that while Solana's rebound is promising, investors should remain vigilant due to potential volatility DeFi News.
