Solana remains stuck inside a medium-term bearish channel, unable to break the key resistance at 125.00 (Murray [5/8]). For several weeks, this zone has acted as a ceiling — and as long as SOL stays below it, sellers keep control.

If bears hold 125.00, the next logical targets lie at 100.00 (Murray [4/8]) and 75.00 (Murray [3/8]).

However, a breakout above 165.70 (38.2% Fibonacci) would change the picture completely: SOL may exit the descending channel and move toward 200.00 (61.8% Fib) and 250.00 (Murray [+2/8]).

Technical picture

• Bollinger Bands slope downward — confirming bearish structure.

• MACD stays in negative territory with no signs of bullish momentum.

• Stochastic nears overbought zone → risk of reversal grows.

• Weekly chart hints at a double top, strengthening the bearish case with a potential move toward 93.75 (Murray [3/8], W1).

Key Levels

• Resistance: 165.70, 200.00, 250.00

• Support: 125.00, 100.00, 75.00

Trading Scenarios

Bearish Scenario (Primary)

SELL STOP: 123.80

TP: 100.00 → 75.00

SL: 142.90

Timeframe: 5–7 days

Invalidation occurs if SOL breaks and consolidates above 125.00.

Bullish Scenario (Alternative)

BUY STOP: 166.00

TP: 200.00 → 250.00

SL: 145.00

A breakout above 165.70 could trigger trend reversal and momentum expansion.

Solana remains at a turning point: failure at 125.00 reinforces bearish continuation, while a breakout above 165.70 would flip market structure bullish and target much higher levels.

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