Solana Price Bounces Off Critical Support Level — Is $2,000 Possible?

Source Newsbtc

After enduring an unsteady period over the past few weeks, the cryptocurrency market appears to be finally settling, with most large-cap assets stabilizing within a consolidation range. The story was a little different for the Solana price, which is showing strong signs of resurgence in the last few days.

The Solana token has had a mixed price performance so far in 2025, running to as high as $260 in January and then losing half of its value three months later. Building on its latest recovery, a crypto trader has postulated on the social media platform X that the altcoin seems to be gearing for a significant run to the upside.

Can SOL’s Resurgence Fuel A Bigger Rally?

In an April 18 post on X, a crypto analyst with the pseudonym Cryptollica shared an exciting analysis of the Solana price. According to the chart highlighted by the online pundit, the price of SOL just bounced back from a critical support level, which could catalyze a move to around $2,000.

As observed in the chart, the Solana price appears to be persisting in an ascending channel on the one-hour timeframe. An ascending channel is a technical analysis pattern characterized by two major (upward-sloping) trendlines: the upper line linking the swing highs and the lower line connecting the swing lows.

Solana

The token’s price often persists within the ascending channel, with the upper trendline often serving as resistance and the lower boundary line serving as a support zone. Investors can trade as prices swing between the pattern’s support and resistance levels or enter a position following a breakout (indicating trend continuation) or breakdown (suggesting trend reversals).

The highlighted chart shows that the Solana price has been in and out of this ascending channel since mid-2020 before breaking out during the 2021 bull run. However, the price of SOL returned within the channel following the crash of the FTX exchange in November 2022.

The Solana price has persisted within this channel since 2022, finding cushion at the lower boundary line numerous times. The most recent bounce-back from this trendline came in March after the altcoin’s price fell toward the $100 level.

If this support level continues to hold strong, there is a likelihood that the price of Solana could travel to as high as $2,000 by mid-2026. However, it is also worth noting that the SOL token would need to overcome a crucial resistance zone around $295. On the flip side, if the altcoin breaches and closes beneath the lower trendline, it could fall to as low as $20.

Solana Price At A Glance

As of this writing, the price of Solana stands at around $134, reflecting no significant change in the past day. According to CoinGecko data, the cryptocurrency is up by more than 10% in the past seven days.

Solana price
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
EUR/USD Price Forecast: Bounces off 1.1300 neighborhood; shows resilience below 23.6% Fibo.The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
Author  FXStreet
4 Month 23 Day Wed
The EUR/USD pair attracts some follow-through selling for the second straight day on Wednesday and drops to a one-week low during the Asian session. Spot prices, however, rebound a few pips from the 1.1300 neighborhood and currently trade around the 1.1380 region, still down over 0.35% for the day.
placeholder
Top 3 gainers Fartcoin, Zerebro, DeepBook: Solana and Sui meme coins soar on bold risk-on waveMeme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
Author  FXStreet
4 Month 23 Day Wed
Meme coins led by Fartcoin, Zerebro and DeepBook (DEEP) are extending gains during the Asian session on Wednesday amid soaring investor risk appetite. Bitcoin (BTC) briefly crossed $93,000 the previous day alongside widespread rallies among altcoins.
placeholder
Dogecoin (DOGE) Pulls Back — Is A Bounce from $0.1650 Support on the Horizon?Dogecoin started a fresh increase above the $0.1700 zone against the US Dollar. DOGE is now correcting gains and might find bids near the $0.1650 zone. DOGE price started a decent upward move above
Author  NewsBTC
21 hours ago
Dogecoin started a fresh increase above the $0.1700 zone against the US Dollar. DOGE is now correcting gains and might find bids near the $0.1650 zone. DOGE price started a decent upward move above
placeholder
DeFi Dev Corp buys additional 65,305 SOL amid broader institutional interest: Solana price slides below $150Solana (SOL) price faces growing overhead pressure and slides below $150 to trade at $148 at the time of writing on Thursday. The sudden pullback follows the crypto market's edging higher on improving investor sentiment, which saw SOL climb to $154 on Wednesday. 
Author  NewsBTC
21 hours ago
Solana (SOL) price faces growing overhead pressure and slides below $150 to trade at $148 at the time of writing on Thursday. The sudden pullback follows the crypto market's edging higher on improving investor sentiment, which saw SOL climb to $154 on Wednesday. 
placeholder
Gold price bulls could regain control amid fading US-China trade deal optimismGold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
Author  FXStreet
21 hours ago
Gold price (XAU/USD) attracts fresh buyers during the Asian session on Thursday, reversing the previous day's heavy losses and snapping a two-day losing streak to the $3,260 area or the weekly low.
goTop
quote