- Solana’s price surged from $128.34 to $145 after a ceasefire between Israel and Iran eased market tensions, helping the altcoin reclaim key support.
- With bullish technical indicators and rising buying pressure, SOL could rally up to $195.33 if it breaks above resistance levels.
After a week-long downtrend triggered by escalating tensions between Israel and Iran, Pi Network‘s bullish cousin, Solana (SOL), is making headlines with a significant price recovery. The altcoin recently bounced from a low of $128.34 to $145 following the announcement of a ceasefire agreement, setting the stage for a potential 35% rally.
Solana Reclaims Support with Geopolitical Boost
Solana’s downtrend began on June 16, pulling it down from $157.84 to a sharp low of $128.34. However, the ceasefire between Israel and Iran, confirmed by U.S. President Donald Trump on June 23, restored market confidence. This helped SOL reclaim its realized price of $132.35—a critical support level indicating average holder cost—which had briefly flipped to resistance.
With tensions easing, traders regained appetite for risk assets, and Solana was among the primary beneficiaries. The recovery has broken SOL out of its descending channel, a classic technical sign of trend reversal.
Technical Indicators Turn Bullish
Supporting this renewed optimism is the Moving Average Convergence Divergence (MACD) indicator, which has flashed a bullish crossover. The 12-period EMA has moved above the 26-period EMA, suggesting buyer strength is growing.
In addition, the Relative Strength Index (RSI) is rising steadily, indicating increasing buying pressure. This is complemented by the Supertrend indicator, which has flipped to a bullish setup with the green line now positioned under the current price—a sign that upward momentum could continue.
Solana Eyes 35% Upside—But Watch Key Levels
If Solana can break and hold above the 20-period EMA, analysts suggest it could first test resistance at $171.76. A clear move beyond this could propel it toward $195.33, marking a potential 35% rise from current levels.
However, failure to breach the 20 EMA may reintroduce bearish pressure. In that case, SOL could fall back below the lower boundary of its previous descending channel, risking a pullback toward $125.
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