Solana (SOL) faced a sharp decline, tumbling over 20% from the $180 resistance zone and breaking key support levels at $162 and $150. The downtrend follows a broader market pullback, with Bitcoin and Ethereum also experiencing losses.
SOL is now trading below $140 and the 100-hourly simple moving average (SMA), signaling a bearish trend.
Solana’s Technical Breakdown
Solana attempted to stay above $180 but failed, leading to a downward move below $165 and $150. The price even dipped below $132, with no immediate signs of recovery.
A bearish breakdown of a bullish trend line at $148 intensified selling pressure, dragging SOL further into the red.
Resistance Levels to Watch
- $140 – Immediate resistance level
- $144 – 23.6% Fibonacci retracement level
- $156 – Major resistance at the 50% Fib retracement from $180 to $132
- $165 – Key resistance before a potential retest of $180
If SOL manages to close above $156, the bullish momentum could return, pushing prices toward $165 or even $180 in the coming sessions.
Potential Downside Risks
If Solana fails to break above $148, another downward move is likely.
- $132 – First key support
- $125 – Critical support level
- $120 – Break below this could trigger a sharper fall
- $102 – Bears could target this zone if downward momentum accelerates
What’s Next for SOL?
- The Hourly MACD is in the bearish zone, signaling further downside potential.
- The Hourly RSI remains below 50, indicating weak bullish momentum.
A break above $156 could restore buyer confidence, while a failure to hold $125 support could open the door to further declines toward $102.
Will Solana recover, or is more downside ahead? Traders should watch the $150 resistance and $125 support levels for the next move.
