As of March 29, 2025, here’s an analysis of Solana (SOL), including its current market details, technical indicators, and recent developments.
For on-demand analysis of any cryptocurrency, join our Telegram channel.
SOL Next Target
Price: $125.51 USD
Market Capitalization: Approximately $64.26 billion USD
24-Hour Trading Volume: $2.33 billion USD
Circulating Supply: 512,025,519 SOL
Total Supply: 597,237,133 SOL
Price is in a Downtrend, however, it had a bullish breakout from Falling Wedge pattern, which could signal at least a temporary bullish trend reversal.
We would be buyers near $120 support, with +20% upside potential to $150, prior swing high. Stop Loss at $113 (prior swing low).
Technical Indicators
Relative Strength Index (RSI): Approximately 34, indicating oversold conditions.
Moving Averages:
50-day MA: SOL is struggling to reclaim this level.
200-day MA: Serving as strong support.
Support and Resistance Levels:
Support: Around $113
Resistance: Immediate resistance at $134.46, with subsequent levels at $147.05 and $178.63.
Recent Developments
Market Performance: Solana has experienced a price decline, dropping by approximately 5.84% over the past 24 hours.
MonkeDAO’s Acquisition of zBTC: MonkeDAO, a leading Solana-based decentralized autonomous organization (DAO), has acquired zBTC, making it the first DAO on Solana to hold Bitcoin-backed reserves.
U.S. Cryptocurrency Reserve Proposal: President Donald Trump announced a proposal for a U.S. cryptocurrency reserve, which includes Solana (SOL) among other cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Cardano (ADA).
For on-demand analysis of any cryptocurrency, join our Telegram channel.
