Solana holds above $162, pressing historical resistance, as its 16-month consolidation signals potential breakout momentum.
Support near $140 remains critical for SOL's bullish structure, while $170 rejection suggests a near-term pullback amid mixed momentum.
Long-term accumulation stays intact with higher lows and reclaimed trendlines, but expanding volume is key for a sustained breakout.
Solana (SOL) has remained range-bound for over a year, trading within a tightly compressed bullish consolidation zone. Now positioned above $162, the asset is pressing against historical resistance, while volume metrics show signs of potential exhaustion.
Solana Consolidates Above Historic Accumulation Zones
Over 16 months of ranging between $13.81 and $204.51 have built a clearly defined price base for Solana. Despite fluctuating sentiment, its structure remains firmly bullish as long as trendlines continue holding. Volume contraction and higher lows signal maturing market conditions with breakout potential if momentum persists.
Source: (X)
After the breakout phase above $32.77 in early 2023, SOL entered a larger consolidation zone stretching to $204.51. Within that yellow-marked zone, price respected both resistance and support over multiple months. The cryptocurrency currently trades near $162.74, above its ascending trendline drawn from January 2023. This trendline has supported price action through all corrective phases in the past year.
As the Solana price continues pressing against supply, weekly volume has declined steadily. The descending volume triangle, paired with rising price, outlines divergence and suggests market indecision. Still, the lack of breakdown beneath the $116.46 support reflects strength. The $98.00 and $77.39 levels beneath it have previously triggered strong reversals and continue to act as structural backstops.
Solana reclaimed a critical long-term downtrend resistance that stretched from its 2021 highs. The reclaim of this thick red trendline occurred alongside the formation of a higher-low pattern in 2023. Price has respected this structure ever since, refusing to close below trend support on the weekly chart. This builds a strong case for controlled accumulation rather than topping behavior.
In contrast, the 4-hour chart captures a recent rejection from the $170.51 resistance zone. This level has now capped upside attempts twice and sparked an intraday sell-off back to $157.38. A projected demand zone around $140.36 is now in play, aligned with a blue price target box on the chart.
Momentum indicators paint a bearish near-term picture. Oscillators peaked above 69.05 and rolled over toward 26.23, indicating declining bullish pressure. Wave momentum flipped negative with readings of -6.19 and -7.13. These shifts occurred right after a failed breakout, confirming the rejection and giving strength to the current bearish sentiment.
Source: (X)
A key structural question emerges: will SOL hold above the $140 support zone, or will deeper correction unfold? The current pullback fits within a broader bullish structure but invites caution for short-term traders. The larger bullish thesis remains intact as long as SOL defends the rising trendline and continues producing higher lows across weekly closes.
Solana still sits at a pivotal point, where expanding volume and stronger buying interest are needed for a full breakout. As long as SOL maintains strength above support zones, long-term conviction remains intact. With SOL trading at the center of accumulation, breakout potential intensifies if macro conditions align. SOL’s technical roadmap now hinges on holding $140 and reclaiming $170 to revive upward momentum.
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Bearish Solana Tests $162 While $140 Support and $170 Resistance Define Its Roadmap
Solana holds above $162, pressing historical resistance, as its 16-month consolidation signals potential breakout momentum.
Support near $140 remains critical for SOL's bullish structure, while $170 rejection suggests a near-term pullback amid mixed momentum.
Long-term accumulation stays intact with higher lows and reclaimed trendlines, but expanding volume is key for a sustained breakout.
Solana (SOL) has remained range-bound for over a year, trading within a tightly compressed bullish consolidation zone. Now positioned above $162, the asset is pressing against historical resistance, while volume metrics show signs of potential exhaustion.
Solana Consolidates Above Historic Accumulation Zones
Over 16 months of ranging between $13.81 and $204.51 have built a clearly defined price base for Solana. Despite fluctuating sentiment, its structure remains firmly bullish as long as trendlines continue holding. Volume contraction and higher lows signal maturing market conditions with breakout potential if momentum persists.
Source: (X)
After the breakout phase above $32.77 in early 2023, SOL entered a larger consolidation zone stretching to $204.51. Within that yellow-marked zone, price respected both resistance and support over multiple months. The cryptocurrency currently trades near $162.74, above its ascending trendline drawn from January 2023. This trendline has supported price action through all corrective phases in the past year.
As the Solana price continues pressing against supply, weekly volume has declined steadily. The descending volume triangle, paired with rising price, outlines divergence and suggests market indecision. Still, the lack of breakdown beneath the $116.46 support reflects strength. The $98.00 and $77.39 levels beneath it have previously triggered strong reversals and continue to act as structural backstops.
Solana reclaimed a critical long-term downtrend resistance that stretched from its 2021 highs. The reclaim of this thick red trendline occurred alongside the formation of a higher-low pattern in 2023. Price has respected this structure ever since, refusing to close below trend support on the weekly chart. This builds a strong case for controlled accumulation rather than topping behavior.
Near-Term Rejection Sparks Short-Term Correction Setup
In contrast, the 4-hour chart captures a recent rejection from the $170.51 resistance zone. This level has now capped upside attempts twice and sparked an intraday sell-off back to $157.38. A projected demand zone around $140.36 is now in play, aligned with a blue price target box on the chart.
Momentum indicators paint a bearish near-term picture. Oscillators peaked above 69.05 and rolled over toward 26.23, indicating declining bullish pressure. Wave momentum flipped negative with readings of -6.19 and -7.13. These shifts occurred right after a failed breakout, confirming the rejection and giving strength to the current bearish sentiment.
Source: (X)
A key structural question emerges: will SOL hold above the $140 support zone, or will deeper correction unfold? The current pullback fits within a broader bullish structure but invites caution for short-term traders. The larger bullish thesis remains intact as long as SOL defends the rising trendline and continues producing higher lows across weekly closes.
Solana still sits at a pivotal point, where expanding volume and stronger buying interest are needed for a full breakout. As long as SOL maintains strength above support zones, long-term conviction remains intact. With SOL trading at the center of accumulation, breakout potential intensifies if macro conditions align. SOL’s technical roadmap now hinges on holding $140 and reclaiming $170 to revive upward momentum.
The post Bearish Solana Tests $162 While $140 Support and $170 Resistance Define Its Roadmap appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.