Community Trust ScoreVerified
Solana (SOL) is entering a critical phase in mid-November as market momentum shifts toward the downside. After reaching highs near $172 earlier in the month, SOL has faced a steady wave of selling, losing nearly 10% within days and revisiting the important $155 region. With broader market conditions weakening and technical indicators leaning firmly negative, traders are evaluating whether Solana is headed for a deeper pullback toward $140. A close look at price behavior, liquidity levels, and momentum signals suggests that the short-term Solana price prediction remains bearish.
The Current Market Landscape: Solana’s Struggles Continue
SOL was trading around $155 at the time of writing, a significant drop from last week’s peak at $171.9. This decline has unfolded despite Solana’s strong position in areas such as stablecoin transaction volume and network revenue, which have remained supportive throughout the month. However, these fundamental strengths have not translated into sustained upward price movement.
Instead, Solana has been unable to maintain control of key support zones, resulting in repeated lower highs and lower lows. This structure reflects a classic downtrend that has been forming steadily since the first week of November. Broader market sentiment has also played a role, particularly with Bitcoin hovering around the $102,000 region. When Bitcoin enters periods of uncertainty, altcoins like Solana are often more vulnerable to swift corrections.
Breakdown of Market Structure on the Higher Timeframe
A review of the 1-day chart reveals that Solana recently broke below a symmetrical triangle formation that had guided price activity for several weeks. This breakdown was accompanied by a sharp loss of the $180 support zone, which previously acted as a pivotal area for bullish attempts. The inability to hold this region signaled the end of the earlier consolidation phase and the beginning of a more decisive downward trend.
The pattern that followed included successive bearish waves, each producing new lower lows. This behavior typically signifies persistent selling pressure rather than momentary volatility or a liquidity-driven event. In Solana’s case, indicators such as the On-Balance Volume (OBV) confirmed that sellers were consistently overpowering buyers. As OBV continues to trend lower, it reinforces the idea that the current decline is not accidental but driven by steady distribution.
Adding to this, the Money Flow Index (MFI) remains below 50, indicating sustained negative momentum. When both OBV and MFI point toward seller dominance, it becomes difficult for buyers to initiate meaningful recoveries.
The $145–$155 Demand Zone Faces Renewed Pressure
On lower timeframes, particularly the 1-hour chart, the $145–$155 region stands out as a crucial demand zone. Since November 4th, this area has served as the primary support band that prevented deeper declines. However, as Solana revisits this zone yet again, signs of weakening buyers are becoming more apparent.
Price action within this range has begun to show reduced reaction strength. During earlier retests, SOL produced sharp rebounds, but recent responses have shown shallow bounces, suggesting reduced conviction among traders. Compounding this is the behavior of Bitcoin, which continues to hover near significant psychological thresholds. Any renewed weakness from Bitcoin could place additional pressure on Solana’s demand zone, increasing the chances of a breakdown.
Moreover, the OBV on the lower timeframe has continued its downward trajectory, signaling that buyers are not stepping in aggressively even during local recoveries. The MFI falling below 20 further indicates oversold conditions, but oversold readings alone do not guarantee a reversal, especially when market-wide sentiment leans cautious.
Liquidity Clusters Point to a Deeper Correction
Market liquidity zones often act as magnets for price movements, especially during uncertain or bearish market conditions. According to the latest 1-month liquidation heatmap, notable liquidity clusters exist near the $144 and $140 levels. These liquidity pockets typically attract the market as traders’ stop losses concentrate around such zones.
With current price action leaning bearish, these liquidity areas are well within reach. The heatmap also reveals liquidity extending as low as $120, suggesting that deeper corrections cannot be ruled out if market sentiment deteriorates sharply.
However, the primary expectation remains centered around the $140 level. This area aligns with both liquidity concentrations and historical support zones. A dip to this region is considered likely before any attempt at recovery.
Will Solana Find Support at $140?
While short-term projections remain bearish, the outlook following a retracement to $140 becomes more nuanced. A bounce from this level remains possible if broader conditions stabilize and Bitcoin maintains its footing above the $98,000–$100,000 range. Historically, Solana has responded well when entering key support zones after significant pullbacks, often producing strong recoveries once selling pressure subsides.
Nevertheless, any recovery from $140 would require strengthening volume, improving liquidity flows, and signs of renewed accumulation on indicators like OBV. Without these supportive elements, a bounce may be short-lived and easily disrupted by minor market turbulence.
Short-Term Solana Price Prediction: More Downside Likely
Given the current data, the immediate Solana price prediction appears bearish. The weakening demand zone, declining volume profile, and presence of strong liquidity magnets below the current price all point toward a likely move to $140 in the coming days.
If the $140 region holds, a gradual rebound could unfold, potentially pushing SOL back into the $150 area. Failure to hold $140, however, increases the risk of a slide toward the deeper liquidity zone near $120.
For now, traders should prepare for continued downward pressure, with close attention on the key levels of $155, $145, and $140 as the market shapes Solana’s next directional phase.
