by Coinstrooper Crypto Articles
Quick Take
  • Solana has once again bounced off the key $120 support level, but the latest price action may cast short-term doubt on a bullish Solana price prediction.
  • The Asian session opened with sharp losses, though a swift rebound at this critical threshold shows buyers are still defending key levels.
  • Trading volumes have gone up by an eye-popping 278%, currently sitting at $6.3 billion and accounting for 9% of the token’s market cap.
  • This confirms the technical relevance of this specific price zone.

What Happened

Even though top altcoins are struggling to recover, top crypto presales in the Solana ecosystem, like Bitcoin Hyper ($HYPER), have managed to keep investors excited. This project brings Solana’s high speeds, low costs, and smart contracts support to the Bitcoin blockchain.

Since the presale kicked off, it has raised $30 million to launch the scaling solution, setting the stage for a successful launch.

By combining Solana’s low-cost infrastructure with Bitcoin’s massive network, Bitcoin Hyper makes it possible to launch Bitcoin-native DeFi apps, NFT platforms, and advanced payment solutions.

More than $30 million has already been raised, and investor interest continues to grow.

Market Context

Solana has once again bounced off the key $120 support level, but the latest price action may cast short-term doubt on a bullish Solana price prediction.

Trading volumes have gone up by an eye-popping 278%, currently sitting at $6.3 billion and accounting for 9% of the token’s market cap. This confirms the technical relevance of this specific price zone.

Solana Price Prediction: SOL Temporarily Finds Support at $120 But Bears are Still in Control

If SOL’s $120 support falters, the lower bound of the descending price channel would be the next demand zone to watch.

Why It Matters

As Wall Street’s interest in Solana continues to be strong, this bounce off the $120 level could catalyze the token’s next leg up.

However, it could also result in a sharp correction if this support area is lost.

Meanwhile, the token’s downside risk would increase if that line fails to hold, increasing the odds of a move to $97 for the first time since April last year.

Demand for the token is expected to rise as the Hyper L2 gains traction, giving early backers a major advantage.

Details

The Asian session opened with sharp losses, though a swift rebound at this critical threshold shows buyers are still defending key levels.

From Monday to Thursday last week, SOL ETFs brought in $10 million in assets, pushing the total to $1.1 billion.

The daily chart shows that SOL experienced significant selling pressure once again upon hitting the $145 resistance.

The Relative Strength Index (RSI) shows that negative momentum has accelerated as it fell below the 14-day moving average.

Bitcoin Hyper Presale Is Bringing Solana Speeds to the Bitcoin Blockchain

Bitcoin Hyper ($HYPER) is a red-hot crypto presale bringing Solana’s powerful tech to Bitcoin.

This unlocks a new era of speed, scalability, and passive income potential for BTC holders.

For the first time, Bitcoin users will be able to do more than just HODL.

With Bitcoin Hyper, they’ll be able to earn yield, stake, lend, and trade assets using fast and efficient smart contracts.

All of this happens without leaving the Bitcoin ecosystem.

At the center of it all is the $HYPER token.

To buy $HYPER before the presale ends, head to the official Bitcoin Hyper website and connect a compatible wallet like Best Wallet.