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Solana Price Reaches Key Support at $118 Amid Growing Bullish Interest

Guavy AI Editorial Team
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SOL
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Solana's price has pulled back after hitting $125, and it is now trading near $118.

The token broke below a rising trendline at around $120-$121, which could make this area an important resistance level if SOL attempts to recover.

Derivatives positioning on Bitfinex shows a sharp increase in Solana long positions, indicating growing bullish interest from traders.

Solana continues to lead the altcoin spot ETF market with approximately 46% of trading volume, but it needs to reclaim the $120-$125 region for its recovery to resume.

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Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

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