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SOL Bulls Fight Back: Can Solana Break Above $135 Before Quarter Ends?
- Solana (SOL) recently bounced from the $120–$130 support range, showing signs of a bullish reversal.
- Speculation about a possible Solana ETF is driving buying interest, hinting at a potential breakout in July.
- SOL's trading volume surged by 17.6%, signaling renewed market interest despite recent weakness.
- Market analyst Cas Abbé noted that holding above $130 is crucial amid geopolitical risks impacting crypto markets.
- Abbé anticipates a retest of $150–$155 and a possible push towards $170 if SOL's higher low pattern on the daily chart holds.
- A Solana ETF approval is seen as a key driver for future price gains, with bullish positions offering a favorable risk-reward setup.
- Despite trading at $133.77, SOL is down 14.46% over the past week, with analysts cautioning about a potential drop to $100 if $130 support fails.
- Traders are monitoring key support levels at $134 and a possible upside target at $142.59, while indicators suggest ongoing selling pressure.
- Veteran trader Matthew Dixon highlighted U.S.–Iran tensions as a broader risk factor affecting Solana's price.
- External catalysts and technical strength will likely influence SOL's price in the coming weeks, with the $130 mark being crucial for bullish momentum.
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