Sol, the native token of the Solana blockchain, seems to shift its Bearish market sentiment after a remarkable price decrease in recent days. On April 4, 2025, after the daring explanation of Treasury Secretary Scott Besent, that “Bitcoin will be a store of value”, the overall cryptomarkt showed an impressive upward rally.
Current price momentum
In the midst of this, SOL has registered a price die of more than 8% in the last 24 hours and is currently trading in the vicinity of $ 123. In the same period, the trade volume dropped by 9%; However, it seems to be recovering because the market continues to maintain the upward rally after the Bessent statement.
This upward momentum was registered when the Sol price re -test its crucial level of support of $ 114.
Solana (SOL) Technical analysis and upcoming levels
According to technical analysis of experts, SOL seems to be a bullish price pattern with double bottom on the daily period. However, the pattern is not yet complete, because the Daily Chart is currently showing a single leg with two soils on the most important horizontal support level of $ 114.
In addition to the bullish price pattern, Sol’s Daily Chart has also formed a bullish divergence, indicating that it is actively ready for a huge upward rally.
Based on the recent price action and the historical momentum, if the price of SOL remains above the level of $ 114, there is a strong possibility that it can rise by 18% to reach the level of $ 144.5 – or even higher in the future.
Important liquidation levels
This shift in sentiment and the strength of Sol’s upward momentum are $ 11.5 million in short positions with a risk of liquidation, as reported by the uncleaning analysis company Coinglass.
Data shows that traders are currently being used too much, with key levels at $ 121.3 at the bottom and $ 124.1 at the top, with $ 31.45 million and $ 11.50 million in long and short positions respectively.
While investigating the statistics on the chain, it seems that the bulls are back and currently actively dominate.