{"id":50751,"date":"2025-04-15T10:36:50","date_gmt":"2025-04-15T10:36:50","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-rally-at-risk-as-bearish-shooting-star-appears-on-daily-chart\/"},"modified":"2025-04-15T10:36:50","modified_gmt":"2025-04-15T10:36:50","slug":"solana-rally-at-risk-as-bearish-shooting-star-appears-on-daily-chart","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-rally-at-risk-as-bearish-shooting-star-appears-on-daily-chart\/","title":{"rendered":"Solana rally at risk as bearish shooting star appears on daily chart"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<ul>\n<li>Solana&rsquo;s 40% rally from $95.23 faces a threat from a shooting star candlestick.<\/li>\n<li>Technicals show bullish MACD but fragile momentum with $125&ndash;$128 support key.<\/li>\n<li>Macro pressures and competition challenge SOL&rsquo;s ability to sustain the $147.60 push.<\/li>\n<\/ul>\n<p>The Solana price has climbed 40% from a 1-year low of $95.26 registered on <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a> last week, reaching $131.32 on April 15, 2025.<\/p>\n<p>This price surge, much of it happening in the past week, has ignited the possibility of Solana (SOL) recovering from its three-month downtrend.<\/p>\n<h2>What is behind the current Solana price surge?<\/h2>\n<p>One of the key factors fueling the current Solana price is the highly anticipated launch of Canada&rsquo;s first spot Solana ETFs with staking capabilities.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Canada is readying spot Solana ETFs to launch this week after regulator gave green light to multiple issuers incl Purpose, Evolve, CI and 3iQ. ETFs will include staking via TD <a href=\"https:\/\/t.co\/FSw149Xkm4\">pic.twitter.com\/FSw149Xkm4<\/a><\/p>\n<p>&mdash; Eric Balchunas (@EricBalchunas) <a href=\"https:\/\/twitter.com\/EricBalchunas\/status\/1911792784102617321?ref_src=twsrc%5Etfw\">April 14, 2025<\/a><\/p>\n<\/blockquote>\n<p>These ETFs, approved by the Ontario Securities Commission, will allow investors to earn rewards through staking, boosting SOL&rsquo;s demand.<\/p>\n<p>In addition, the resilient NFT activity on Solana and Web3 integrations also supports the upward trajectory.<\/p>\n<p>Last but not least, there is the Venture capital backing for Solana-based projects, which underscores Solana&rsquo;s long-term appeal despite market volatility.<\/p>\n<h2>Solana price technical analysis<\/h2>\n<p>Following the current price surge, Solana has broken out of a three-month falling wedge.<\/p>\n<p>However, a shooting star candlestick formed on the daily chart yesterday, signaling potential trouble for this rally.<\/p>\n<p><\/p>\n<p>This bearish pattern, appearing after SOL hit $134.19, suggests rejection and a possible pullback.<\/p>\n<p>The 50-day EMA at $136 now acts as the short-term dynamic resistance, which if crossed could set the stage for a major bull run.<\/p>\n<p>Meanwhile, the 20-day EMA at $124.28 provides support, keeping the long-term trend bullish.<\/p>\n<p>The RSI, at 54.12, reflects mild bullishness but lacks strong momentum to confirm a breakout.<\/p>\n<h2>Solana price prediction<\/h2>\n<p>Solana&rsquo;s ability to sustain its bullish momentum faces significant hurdles.<\/p>\n<p>Macro pressures, including geopolitical risks and US Federal Reserve policy speculation, weigh on risk assets like cryptocurrencies.<\/p>\n<p>Also, competition from newer layer-1 blockchains, such as Sui and Aptos, challenges Solana&rsquo;s market share.<\/p>\n<p>In addition, past network congestion issues, though less frequent, still linger in investor minds.<\/p>\n<p>And although the SOL\/ETH price ratio recently surged to 8.1% highlighting Solana&rsquo;s relative strength, Ethereum&rsquo;s underperformance may not persist for long.<\/p>\n<p>The technical indicators present a mixed outlook for Solana&rsquo;s near-term path.<\/p>\n<p>A bullish MACD crossover, with the blue line surpassing the orange signal line, hints at rising buyer strength, with growing green histogram bars reinforcing this short-term buying pressure.<\/p>\n<p>However, the shooting star&rsquo;s appearance near the $134.19 resistance raises concerns about exhaustion.<\/p>\n<p>A break below the immediate support at $125&ndash;$128, which has been tested multiple times recently, could push SOL toward the psychological $100 level, a 50% retracement from its 2023 rally.<\/p>\n<p>However, if buyers defend $125 and macro sentiment improves, a push toward $147.60 resistance is possible.<\/p>\n<p>But without a decisive bullish catalyst, consolidation between $125 and $145 seems likely.<\/p>\n<p>The post <a href=\"https:\/\/coinjournal.net\/news\/solana-rally-at-risk-as-bearish-shooting-star-appears-on-daily-chart\/\">Solana rally at risk as bearish shooting star appears on daily chart<\/a> appeared first on <a href=\"https:\/\/coinjournal.net\">CoinJournal<\/a>.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/solana-rally-at-risk-as-bearish-shooting-star-appears-on-daily-chart\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Solana&rsquo;s 40% rally from $95.23 faces a threat from a shooting star candlestick. Technicals show bullish MACD but fragile momentum with $125&ndash;$128 support key. Macro pressures and competition challenge SOL&rsquo;s ability to sustain the $147.60 push. The Solana price has climbed [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":50752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50751"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=50751"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/50751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/50752"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=50751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=50751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=50751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}