Solana (SOL) Price: Double Bottom Setup Ready to Launch Next Big Move

TLDR

Solana reached the critical $141.19 support level, forming a double bottom structure that signals potential bullish momentum A break above $152 resistance could trigger a V-shaped recovery and push SOL to higher price levels SOL must maintain support above $141.19 to preserve its bullish outlook, as breaking below could reverse the trend Current price action shows sideways trading around $150 with declining volume indicating neither bulls nor bears have control Weekly bar closure below $141.41 could lead to further correction toward the $120-$140 zone

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Solana has reached a crucial price level that could determine its next move. The cryptocurrency hit the important $141.19 support zone again, creating what analysts call a double bottom structure.

Solana (SOL) Price

This technical pattern often signals that selling pressure is weakening. When prices touch the same low twice and bounce back, it suggests buyers are stepping in at that level.

Rose Premium Signals noted that SOL’s return to this demand level is worth watching. The double bottom formation indicates that bulls may be gaining strength in this area.

📈 #SOL/USDT DAILY OUTLOOK$SOL has successfully reclaimed the key demand zone around $141.19, forming a double base structure.
The breakout from consolidation suggests bullish momentum is building again. 🔥

🟢 Price action shows signs of V-recovery — continuation above $152… pic.twitter.com/YAvY9ILIdO

— Rose Premium Signals 🌹 (@VipRoseTr) June 7, 2025

The current price action resembles a V-shaped recovery pattern. If Solana breaks above the $152 resistance level, it could trigger increased buying activity.

This breakout would be important for confirming that the bullish trend remains intact. Traders are watching this resistance level closely as it could spark a strong upward move.

Key Support Levels Under Watch

The $141.19 level serves as the main support that Solana must hold. As long as the price stays above this zone, the overall trend remains bullish.

Breaking below this support could quickly change the market sentiment. Traders view this level as a critical line in the sand for SOL’s price direction.

More Crypto Online identified another support level at $143.94. This creates a local setup that provides additional backing for the current price range.

$SOL is showing a local 1-2 setup with support at $143.94.
But on this timeframe, it's likely too small to trust.
A break below $143.94 would shift focus back to the larger setup. pic.twitter.com/tL0JYi8VR0

— More Crypto Online (@Morecryptoonl) June 8, 2025

However, this secondary support level is relatively new. Traders cannot rely on it completely since the pattern is still developing.

Current Market Conditions

SOL is currently trading around $149.59 according to recent data. The price action shows sideways movement in this range.

Volume has been declining, which indicates that neither buyers nor sellers have enough momentum to push the price in either direction. This creates a neutral environment where the next move depends on which side gains control first.

The hourly chart shows that SOL is not near any major resistance or support levels. This middle-ground position makes it harder to predict the immediate direction.

On longer timeframes, the price remains within recent trading ranges. Bulls need to see a clear breakout above current levels to gain confidence.

Source: TradingView

Weekly analysis suggests watching the $141.41 support level closely. If the weekly candle closes below this mark, it could signal more downside ahead.

A break below this level might lead to a correction toward the $120-$140 range. This would represent a deeper pullback from current levels.

The cryptocurrency dropped 1.75% over the past 24 hours, showing some weakness compared to other digital assets that remained in positive territory.

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