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.