{"id":3895,"date":"2025-04-05T05:00:29","date_gmt":"2025-04-05T05:00:29","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/is-the-solana-bottom-in-experts-answer\/"},"modified":"2025-04-05T05:00:29","modified_gmt":"2025-04-05T05:00:29","slug":"is-the-solana-bottom-in-experts-answer","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/is-the-solana-bottom-in-experts-answer\/","title":{"rendered":"Is The Solana Bottom In? Experts Answer"},"content":{"rendered":"

In a new technical analysis shared via X, crypto analyst Scott Melker aka The Wolf Of All Streets (@scottmelker) highlighted a critical support-resistance setup for Solana (SOL), emphasizing what he views as a textbook bounce off of a key technical level. \u201cPicture perfect bounce off of $112 support. Double bottom would confirm with a break above $147, the swing high between the two bottoms. Don\u2019t let anyone call it a double bottom until that happens. Regardless, nice bounce off of support with defined resistance to watch,\u201d Melker stated<\/a>.<\/p>\n

The analyst\u2019s chart shows SOL rebounding from near $112, reinforcing that zone as significant short-term support. For a bullish double-bottom pattern to validate, Melker points to a breakout above the downtrend line (currently around $130). If SOL breaks this resistance, $147 will be the critical level that would need to be breached. Until then, he advises caution about prematurely labeling the formation as a confirmed double bottom.<\/p>\n

\"Solana<\/p>\n

Solana Bottom In?<\/h2>\n

Notably, these remarks come on the heels of unlocks. According to a post<\/a> by on-chain intelligence firm Arkham on Thursday, \u201c$200M OF SOL UNLOCKING TOMORROW. Tomorrow (4th April) marks the largest single-day unlock of staked SOL until 2028. These 4 accounts staked a total of $37.7M of SOL in April 2021, and are up 5.5x at current prices.\u201d The scale of these unlocks has generated considerable discussion on social media.<\/p>\n

Another trader, NooNe0x, took a more optimistic stance, remarking, \u201cSOL unlocks. Looking at the bright side, today\u2019s unlock was the last large block. Today alone is as much as 40% of everything that is still left. It is 78% done, May, June and <December> only large-ish blocks left. Ripping the bandaid off.\u201d In other words, with the bulk of significant unlocks possibly behind it, the supply overhang from locked tokens might be dissipating.<\/p>\n

Historically, major token unlock events\u2014whether for Solana or other projects\u2014have often been anticipated well in advance by traders and investors. Markets \u201cprice in\u201d that large holders sell their old tokens, sometimes driving prices lower ahead of the actual unlock. Once the unlock date arrives, if the anticipated sell-off does not materialize as severely as feared (or if much of the unlocked stake remains off the market), prices have tended to stabilize and often recover in the days or weeks that follow.<\/p>\n

This pattern emerges because many holders, especially larger or early investors, may opt to restake or hold onto their tokens if they maintain a strong fundamental outlook. Meanwhile, short-term traders who had been betting on unlock-related volatility might close positions once the event passes. This \u201cbuy the rumor, sell the news\u201d (or vice versa) dynamic can lead to price whipsaws around unlock periods, but no single outcome is guaranteed; much depends on how much actual selling pressure surfaces and broader market sentiment at the time.<\/p>\n

Meanwhile, Awawat, a trader and angel investor at APG Capital, cautioned<\/a> that Solana could be in a precarious position despite holding above $100. \u201cSOL absolutely shrekt \u2013 broke 170 range low, bounced at 120 a few times \u2013 now holding above 100 but the ice is thin \u2013 last big unlock tomorrow \u2013 will bid sub-100 if given but this looks rough given the state of the trenches,\u201d he wrote.<\/p>\n

\"Solana<\/p>\n

At press time, SOL traded at $115.<\/p>\n

\"Solana<\/p>\n","protected":false},"excerpt":{"rendered":"

In a new technical analysis shared via X, crypto analyst Scott Melker aka The Wolf Of All Streets (@scottmelker) highlighted a critical support-resistance setup for Solana (SOL), emphasizing what he views as a textbook bounce off of a key technical level. \u201cPicture perfect bounce off of $112 support. Double bottom would confirm with a break…<\/p>\n","protected":false},"author":1,"featured_media":3896,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2086,174,175,176,109,115,116],"class_list":["post-3895","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-is-the-solana-bottom-in","tag-sol","tag-sol-news","tag-sol-price","tag-solana","tag-solana-news","tag-solana-price"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/3895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=3895"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/3895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/3896"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=3895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=3895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=3895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}