Listen, Solana’s been through the wringer lately, alright? The crypto market’s been shaky, SOL took a hit, down more than 20% since late May, dropping from above $180 to now hovering just above $145.
But it’s holding that support level like a chad, and some people are whispering about a possible comeback.
What does the chart says?
Now, why’s this interesting? Because a top analyst, Ali Martinez, spotted something juicy on the daily chart, a TD Sequential buy signal.
For those who don’t know, this indicator has a track record of showing up right before a price rebound. Think of it like your office coffee machine suddenly working again after weeks of breakdowns, sparking hope and a little buzz.
When this signal pops near strong support, it’s like a neon sign flashing buy me.
Solana’s sitting just above its 100-day moving average at around $144.68, a level that’s acted like a safety net before.
But don’t get too cozy yet, the 50-day moving average is sliding downward near $159, acting like bouncers at a club, blocking SOL from moving higher.
And don’t forget the 200-day moving average way up near $177.49, that’s a serious overhead resistance zone, like the boss watching your every move.
The deep is calling
The market’s not exactly throwing a party either. Bitcoin and Ethereum are stuck below their resistance levels, dragging altcoins like Solana down with them.
It’s like when the whole office waits for the boss’s green light before making a move.
Some analysts warn that if the big guys keep stalling, Solana might slide further, maybe back toward March lows. But hey, there’s always the other side of the coin, or in this case, the blockchain.
Up or down?
Volume during the recent drop? Pretty muted. No panic selling, just cautious hands.
If SOL can hold above that $144–$145 zone and maybe close daily above the support levels, we might see a bounce back toward $160.
#Solana $SOL rebounds as the TD Sequential indicator presents a buy signal on the daily chart! pic.twitter.com/njSLWgi7z3
— Ali (@ali_charts) June 6, 2025
That’d be a nice little rally, like finally getting your overdue bonus after a tough quarter.
But if it breaks below $144, all bets are off, and we could be looking at more downside. Solana’s at a crossroads, and the next few days will tell the tale.
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