Solana price took a massive tumble last week as Bitcoin nosedived to $61,000 caught in the rising geopolitical tensions between Israel and Iran. Globally, risk assets turned red, with SOL sliding to $120 on Saturday.
The widespread selling pressure and instability spilled into the new week, holding SOL hostage between support at $120 and acute resistance at $120.
The competitive smart contracts token boasting $62 billion in market cap and ranking #5 among other cryptos had recovered to $141 on Thursday while showing signs of an incoming trend reversal.
Solana Price Ignites Bullish Momentum
Traders are ready to get back in the game, considering a 4% surge in the trading volume to $5 billion on CoinMarketCap. The sudden interest in SOL longs underscores a modest 7.25% increase in value, thanks to the robust support by the ascending trendline.
The following few days will be essential to Solana and may determine whether the $200 is within reach, or traders should prepare for doldrums betwe
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