Solana reached a 12-month low of $95.23 on April 7 amidst turbulence in the overall market. However, as the market started to recover this week, SOL has experienced a rebound, with its price rising due to increased demand.

SOL has seen a 17% rebound as its value climbed to $124.58, following an ascending trend line. This trend line indicates an uptrend where the coin's demand is growing gradually, pushing prices higher. The increasing Relative Strength Index (RSI) at 49.58 suggests rising buying interest, poised to surpass the 50-neutral line.

With SOL’s RSI signaling a shift from bearish to bullish momentum, a rise above 50 would affirm growing buying pressure for a sustained upward price trend. The ascending trend line provides support at $120.74, potentially propelling SOL towards $138.41 if market demand remains strong. Conversely, if profit-taking occurs and the $120.74 support level is broken, the price could fall back to $95.23.