Solana Price Rebounds 8% Amid Bullish Outlook

The Solana price has recently shown signs of recovery, rising from $124.08 to $134.20. This rebound comes after a period of liquidity sweep, and there are no immediate concerns signaled by Solana Labs or its co-founders, such as Anatoly Yakovenko and Raj Gokal. The community remains vigilant, recognizing this as a pivotal moment for the cryptocurrency.

Analysts maintain a bullish outlook as long as key support levels are sustained. The stability of the broader ecosystem, with no emergency regulatory or developer alerts, has helped preserve the market outlook. However, developers and the community remain cautious. Historically, Solana has shown resilience, rebounding from major crashes like the FTX incident in 2022. Anatoly Yakovenko emphasized that maintaining support above certain levels is crucial for the uptrend to remain intact, with bullish momentum building into the final week of June.

If the current support holds, analysts predict potential positive momentum leading into mid-July to mid-August, bolstering Solana’s place in the market. The overall market structure for Solana remains bearish, characterized by a series of lower highs and lower lows. For a sustainable bullish reversal to occur, the cryptocurrency must overcome significant resistance levels, particularly the $148 mark, which has been a focal point for traders since May.

Solana has recently shown signs of recovery, bouncing back from a steep decline in June. The altcoin experienced a notable pullback, falling from a four-month high of $187 down to $125. This decline mirrored broader market reactions to increased geopolitical uncertainty and macroeconomic caution. However, Solana managed to rebound sharply, forming what some analysts describe as a “V-shaped recovery.” Within just a few days, SOL surged nearly 15%, retesting the $148 resistance. This level has become a critical barrier for traders, acting as a resistance during both upward and downward moves.

Analysts are closely watching the $148 resistance level, as a successful breakout above this mark could lead to a swift move to higher levels. A sustained break above $148 could confirm the end of the falling wedge pattern and renewed buying pressure. However, failure to break this level might lead to another retest of lower support, possibly as part of a fifth and final wave in a bearish sequence.

Adding to the bullish case, SOL is testing the upper boundary of the falling wedge. If SOL manages to break out, a move toward $204 could be in sight, followed by higher targets near $229 and $258. Technical indicators support the possibility of a bullish breakout. Solana has managed to hold above the crucial $125–$130 demand zone, which also aligns with the 0.618 Fibonacci retracement level. This confluence of technical support strengthens the likelihood of continued upward movement if resistance levels are breached. Volume trends also suggest growing interest, as buying pressure has increased and daily trading volumes are rising—a sign that market participants are gearing up for a potential breakout.

From a longer-term perspective, Solana remains in an uptrend that began in early 2025. The asset has consistently formed higher lows and higher highs, with both the 100 and 200 exponential moving averages (EMAs) providing reliable support. This trend structure gives bulls confidence that the upward momentum can continue. If Solana fails to break the $148 resistance, it could indicate a bearish retest, potentially dragging prices back to the $125–$130 zone. However, a confirmed breakout would shift short-term market sentiment significantly, opening the door to a fresh rally that could take SOL back toward its yearly highs and possibly beyond. Given the current technical setup and rising bullish sentiment, many traders are watching this zone closely. The breakout could also coincide with broader altcoin market movement, especially if Bitcoin remains stable or shows further gains.