Solana (SOL) Reclaims Support After Sudden Breakdown and Bounce

Solana (SOL) briefly lost its long-standing $125 support, dipping below the range it had defended since late 2023. The move triggered widespread concern, with traders anticipating a significant breakdown. However, what followed surprised the market — a swift rebound that pushed SOL back above the critical support level and closed the week with a 7.81% gain.

This sudden reversal has sparked renewed interest in SOL, with some analysts labeling the event a “fakeout” rather than a genuine breakdown. The price action suggests a classic bear trap, where longs were liquidated before the asset bounced back sharply.

Even well-known crypto trader DonAlt, who has been vocal about his skepticism toward Solana, acknowledged the strength of the bounce. While he confirmed the range breakdown technically occurred, he referred to the recovery as a false move and admitted the chart "doesn’t look too bad" in the current context.

Despite the positive momentum, SOL still faces major resistance around the $190–$200 level — a zone that marked the beginning of the last significant downtrend. For Solana to reclaim higher ground, not only would it need sustained buying pressure, but broader market sentiment would also have to improve.

In the meantime, SOL’s resilience is drawing attention. Whether this marks the beginning of a full recovery or just a temporary relief rally remains to be seen. With key levels back in play and volatility high, traders are watching closely. Solana may not be out of the woods, but for now, it’s proving it’s not going down without a fight.