{"id":16661,"date":"2025-04-13T13:55:08","date_gmt":"2025-04-13T13:55:08","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/16661\/"},"modified":"2025-04-13T13:55:08","modified_gmt":"2025-04-13T13:55:08","slug":"will-solanas-weekly-price-jump-lead-to-a-recovery-above-143","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/16661\/","title":{"rendered":"Will Solana\u2019s weekly price jump lead to a recovery above $143?"},"content":{"rendered":"<ul>\n<li>The increased activity on-chain and in speculative trading pointed toward short-term bullish sentiment.<\/li>\n<li>The higher timeframe outlook remained bearish, and $130-$145 could be the levels that crush bullish hopes of recovery.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Solana\u2019s [SOL]<\/a> price bounced from Monday\u2019s low at $95.26 to $130 at press time, a 36% turnaround within a week.<\/p>\n<p>In an <a href=\"https:\/\/ambcrypto.com\/solana-faces-risk-of-30-drop-how-low-can-it-go\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">analysis<\/a>, AMBCrypto noted that the $114 region was an important horizontal level. Now that SOL was trading above this level once more, a recovery appeared possible.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-active-addresses-comp.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-482344\" class=\"size-full wp-image-482344\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-active-addresses-comp.png\" alt=\"Solana Active Addresses\" width=\"2560\" height=\"1440\"  \/><\/a><\/p>\n<p id=\"caption-attachment-482344\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/studio.glassnode.com\/charts\/addresses.ActiveCount?a=SOL&amp;ema=0&amp;mAvg=7&amp;mMedian=0&amp;s=1728799987&amp;u=1744524787&amp;zoom=182\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Glassnode<\/a><\/p>\n<p>The rising number of active addresses over the past week came alongside the price bounce. The 7-day Moving Average (MA) was used to smooth out the chart, and it showed that the downtrend of the recent months might be reversing.<\/p>\n<p>The active addresses\u2019 7-day MA was already above the highs from early March when SOL was trading at $144.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-OI.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-482345\" class=\"wp-image-482345 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana Open Interest\" width=\"1484\" height=\"336\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-OI.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-482345\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.coinglass.com\/currencies\/SOL\" target=\"_blank\" rel=\"noopener nofollow external noreferrer\" data-wpel-link=\"external\">Coinglass<\/a><\/p>\n<p>The near 40% price bounce of the past week also brought in a flurry of speculative trading activity. The Open Interest (OI) has risen by nearly $1.5 billion since the 8th of April.<\/p>\n<p>The OI was higher at press time than at any point in March, another sign of a bullish turnaround.<\/p>\n<p><strong>Can Solana bulls keep up this pressure, or was this bounce a selling opportunity?<\/strong><br \/>\n<a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-percent-supply-in-profit-comp.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-482346\" class=\"size-full wp-image-482346\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana Addresses in Profit\" width=\"2560\" height=\"1440\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-percent-supply-in-profit-comp.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-482346\" class=\"wp-caption-text\">Source: Glassnode<\/p>\n<p>The percentage of unique addresses whose buy price was below the current market price was represented in the metric above. The downtrend of Solana from $240 in January saw the metric fall to lows not seen since November 2023.<\/p>\n<p>Back then, the price of Solana was $40, and the bear market was ending. The circumstances were different this time. Throughout 2024, the $120-$130 region had served as a strong support.<\/p>\n<p>The drop in the percent of addresses in profit indicated that holders would use a price bounce to try to exit at break-even. Therefore, the recent price bounce might not materialize into the reversal bulls were hoping for.<\/p>\n<p><a href=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-482351\" class=\"wp-image-482351 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Solana 3-day Chart\" width=\"1940\" height=\"1010\" data-lazy- data-lazy- data-lazy-src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2025\/04\/MD-1-SOL-price.png\"\/><\/a><\/p>\n<p id=\"caption-attachment-482351\" class=\"wp-caption-text\">Source: SOL\/USDT on TradingView<\/p>\n<p>The 3-day chart highlighted this bearish trend, with lower highs and lower lows since January. The $143 level was the recent lower high, and SOL was not close to breaching this level. Traders and investors can use a breakout beyond this level to flip their bias bullishly.<\/p>\n<p>Meanwhile, the $99 and $85 support levels were the next price targets, so long as the structure remained bearish.<\/p>\n<p>\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/bitcoins-198m-whale-position-could-spark-a-rally-heres-what-to-expect\/\" rel=\"prev noopener\" data-wpel-link=\"internal\" target=\"_blank\">Bitcoin\u2019s $198M whale position could spark a rally\u2014Here\u2019s what to expect<\/a>\t\t\t\t\t\t\t\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"The increased activity on-chain and in speculative trading pointed toward short-term bullish sentiment. The higher timeframe outlook remained&hellip;\n","protected":false},"author":2,"featured_media":16662,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[52,51,16,15],"class_list":{"0":"post-16661","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-ambcrypto","9":"tag-business","10":"tag-uk","11":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114331000919427268","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=16661"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/16661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/16662"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=16661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=16661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=16661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}