Community Trust ScoreVerified
The Solana price dipped below the important $150 zone once again, extending the recent correction observed across the broader crypto market. Following its inability to hold above $162 earlier in the week, sellers regained control and pushed SOL into another downward cycle, mirroring weakness seen in Bitcoin and Ethereum. As a result, Solana is now consolidating losses and remains vulnerable to further downside unless buyers defend key support levels.
Bearish Momentum Returns Below $150
Solana attempted to stabilize above $160 but struggled to attract new buying interest. The rejection near $162 triggered a sharp move lower, breaking below support zones at $155 and $150. Once SOL slipped under the $150 region, the decline accelerated, showing strong bearish momentum.
The price eventually reached a low near $141, where selling pressure eased slightly. Since then, SOL has been consolidating within a tight range, attempting minor recoveries but failing to gain meaningful traction. The recovery so far has not managed to break above the 23.6% Fibonacci retracement level, measured from the $172 swing high to the $141 low, which reflects the depth of the bearish trend.
Technical Setup Shows Resistance at $148 and $152
Solana is trading below the 100-hourly Simple Moving Average, suggesting that short-term sentiment remains negative. On the hourly chart, a bearish trend line has formed near $148, creating immediate resistance for any upward attempt.
If buyers manage to push SOL above $148, the next hurdle sits near $152, another resistance level that could weigh on price action. This zone is likely to attract selling interest, given the broader downward momentum.
Beyond $152, a stronger resistance level appears at $160, which also aligns with the 61.8% Fibonacci retracement level of the latest decline. A clean close above $160 would be required for Solana to regain bullish momentum. If this occurs, a move toward $172 could follow, and further gains may potentially lift the price toward the $180 region.
However, given current market signals, such a recovery would require a notable shift in sentiment and volume.
Downside Risks Increase if $142 and $140 Break
If Solana fails to break above the $148–$152 resistance range, the bearish trend may intensify. The first key support now lies near $142, close to the recent low. A sustained move below this level could bring the next major support at $140 into focus.
A break below $140 would indicate deeper weakness in the market and may open the path toward $132, a support level that has provided stability during previous corrections. If this zone fails to hold, bears could drive the Solana price toward $120, which stands as a significant psychological and technical support area.
Traders will be closely watching price reactions near $142 and $140, as these levels could determine whether Solana forms a base for recovery or continues its decline.
Market Sentiment Remains Cautious
Solana’s recent pullback reflects broader market caution. Although the asset has shown strong performance throughout the year, short-term volatility has increased due to profit-taking and reduced risk appetite in the large-cap crypto segment.
The inability to reclaim $150 and hold above it suggests that traders remain hesitant. For SOL to regain bullish momentum, buyers must step in near $142 or $140 and push the price decisively above $152 in the coming sessions.
