Reversal at Key Support Could Lead to $150 Target

Solana price hovered near $135 on Friday, following another unsuccessful attempt to push above $140. Despite recent volatility, SOL has regained its footing, finding crucial support at $135. This recovery comes amid fresh institutional inflows, fueling optimism for a potential rally.

The entire cryptocurrency market is also fluctuating, with Bitcoin continuing to remain in a volatile price range at $91,000. Analysts are looking at a potential re-move to the $150 target, with SOL still gaining momentum following the recent falls.

Solana Leads DEX Volume with $3.092 Billion Amid Market Rebound

The price of Solana has been on a steep recovery, as part of a larger crypto market recovery. The rise in the altcoin is also motivated by a change of attitude towards the market, especially following the decision by Vanguard and Bank of America to support the crypto ETFs.

This action stimulated a trade-off in most of the leading altcoins, such as Solana. This week, SOL price announced that it would roll out its SKR native token in January 2026.

Regarding decentralized exchange (DEX) trading, Solana was the highest ranking with a trading volume of $3.092 billion, followed by $BNB at 2.034 billion.

DEX volume

Analyst Predicts Potential Reversal for Solana Price at Key Support

Crypto analyst notes that Solana is having a key test of a support level. This support is in an upward channel in the monthly chart.

Any positive bounce at this level would spark an increase. Analysts estimate potential Solana price goals of $262 and $315. Investors are awaiting indicators of a possible spurt in the price action of Solana. This is one of the main supports to further development.

Will SOL Price Rebound To $150 Soon?

The SOL price traded at $134, marking a slight drop of 0.30% over the past day.

If the Future Solana outlook price fails to break through this resistance, further declines to the support levels could be expected. On the other hand, breaking out of the range above $140 may see it rally towards the $150 level.

Source: SOLL/USD 4-hour chart: Tradingview

The RSI value of 35 is below the neutral mark of 50, that indicates a bearish momentum. The MACD line is red, and the MACD bar is set below the signal line. This unfavorable reading points to a negative trend, which is bearish.

Source: https://coingape.com/markets/solana-price-outlook-reversal-at-key-support-could-lead-to-150-target/

Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week. Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more