Solana Daily Update
Solana is still under strong selling pressure on the bigger picture. On the daily chart, the trend remains bearish after the sharp drop from the 148 area down to around 111–112, which is the recent low. Price is now trading near 117, but this move does not show any strong recovery yet. The overall structure is still weak, and $SOL is trading well below its previous support levels.
On the lower timeframe, price bounced from the 114–115 area and moved up toward 119, but that bounce was rejected quickly. Since then, SOL has been moving sideways around 116–117, showing hesitation and lack of momentum. Buyers are not strong enough to push price higher, and volume does not support a bullish move.
At the moment, this looks like consolidation after a drop, not a reversal. As long as SOL stays below 119–120, the market remains weak, and any upside move should be treated as a temporary bounce. If price fails to hold above 115, another move toward the recent low around 111–112 is possible.
Overall, the trend is still bearish. Patience is important here, and it’s better to wait for clear levels before taking any trade rather than rushing into the market.
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