The price of Solana (SOL) has been volatile against tether (USDT), causing more pain for hodlers. Despite showing such strength, the price of Solana (SOL) has risen from $30 in recent weeks to around $45, as many investors hoped for more relief rallies to around $60. Solana (SOL) prices were rejected and have continued to fall with no significant bounce. (Data from Binance) Related Reading: Solana Price Trades Laterally, What Could Be The Next Level? Solana (SOL) Price Analysis On The Weekly Chart SOL’s price dropped from $250 to around $30, representing a drop of more than 70% from its all-time high. After touching a weekly low of $32, the price of SOL rallied to $45, demonstrating great strength as many set prices and expectations for a rally back to $60, but the price was met with rejection. On the weekly chart, the price of SOL formed a downtrend line as it continued to respect this resistance line, bouncing off to continue its bearish run. Nonetheless, the price of SOL was rejected from the trendline resistance after a while, and it could not break this trendline. SOL is trading above the key support level of $30; the price of SOL must remain above this level to avoid falling to $24-$20. With the price of SOL holding this support, we may be able to trade higher to the $35 region. A break below $30 would signal a return to lower demand zones and a reluctance of bulls to enter buy orders as there would be more agitati...
