Solana, the Ethereum killer, is showing signs of a strong comeback. After weeks of choppy price action and a sharp pullback, SOL price has rebounded impressively from the $124 zone and is now trading around the $135 to $138 range. This bounce comes at a time when the broader crypto market is grappling with uncertainty, making Solana’s resilience all the more noteworthy.
But what’s fueling this rebound? Is it just a technical bounce, or are there stronger fundamental forces at play, like ETF speculation and institutional adoption?
Recent Pullback & Recovery: What Just Happened?
Solana experienced a sharp drop below the $130 support level last week, briefly dipping to around $124. This move triggered panic among short-term holders, but it turned out to be a classic liquidity sweep—flushing out weak hands before a rebound. The bounce was quick and decisive, with SOL reclaiming the $135 level within days. This type of V-shaped recovery is often observed when there is strong underlying demand, which appears to be the case here.