The Solana price is facing critical support levels that could determine its performance for April 2025. As the cryptocurrency market experiences high volatility due to Trump tariffs, Solana’s price has remained resilient despite recent selling pressure.
Solana Whale Activity and Market Sentiment
In the past few days, there has been a lot of whale movement affecting Solana’s price. On April 9, Whale Alert revealed the transfer of 1,030,000 SOL tokens equivalent to $110 million from Kraken exchange to an unidentified wallet.
The market’s recent movement traces back to President Donald Trump halting tariffs, which revived Solana, Bitcoin, XRP, Ethereum, and Shiba Inu, registering more than a 10% rally.
These large-scale transactions have impacted Solana’s price volatility. Due to whales selling of SOL tokens, the prices continue to drop significantly. Another tweet from LookOnChain highlighted that a large-scale whale nicknamed “4W1Ree” has unstaked 159,028 SOL, a move equivalent to $16.5 million. This, together with other large transfers, has been stressing the near-term stability of the coin.
SOL Price Technical Indicators Point to Key Levels
Solana’s price daily chart shows that the cryptocurrency is following an expanding falling-channel pattern, with the price recently dipping to $95.16 on April 7. This movement met with buying activity below the $100 mark, which has helped maintain Solana’s position above this psychological level.
Several important levels have emerged that can be considered the main points of attraction for traders and analysts. According to Ali Charts, the current level of support is present at the $74 and $50 level while the first level of resistance is at the $115 level and another level of resistance at $121. If Solana can hold above the $95 level, a reversal to these areas of resistance may occur.
Analysts are particularly watching for a break above $121, as this could signal a more significant price recovery. On the other hand, if the SOL price falls below $95, further downside could be possible, with targets as low as $69.94.
Outlook for Solana Price in April 2025
As Solana price navigates the challenges of whale sell-offs and market uncertainty, analysts remain cautiously optimistic about its potential. The cryptocurrency’s ability to maintain a foothold above $100 has garnered attention, with some believing that the coin could regain momentum if key resistance levels are broken.
According to the prediction market, Polymarket, in April, the price of Solana will drop to $80 according to 20% of participants, while 30% predicted a surge to $150.
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