Solana continues to endure persistent bearish pressure after being strongly rejected from a higher Fibonacci resistance zone. The overall trend remains biased towards sellers, with the price currently compressing near a significant long-term demand area, and bearish momentum starting to slow down.
After being rejected at resistance levels of $203 (0.618 Fibonacci) and $225 (0.786 Fibonacci), the downturn accelerated. This rejection marked a sharp decline, pushing the price below critical structural support and triggering several weeks of downward trend.
EMA Structure (Strongly Bearish)
SOL is currently trading below all major moving averages, confirming a bearish market control:
20 EMA — $131.81
50 EMA — $145.12
100 EMA — $160.51
200 EMA — $168.95
All EMAs are stacked above the current price and sloping downwards, forming a heavy resistance zone that SOL must reclaim to reverse momentum.
Current price action relative to the support zone
SOL is currently hovering above the $121–$126 demand zone, close to the Fib 0 level of $121.83. This area has historically been strong support, and buyers are trying to stabilize the price after a long period of selling.
So far, sellers have failed to decisively push the price below this area, increasing the potential for a short-term rebound, although confirmation is still lacking.
Bullish rebound level
For a meaningful rebound, SOL must reclaim the following levels:
$152.74 (0.236 Fibonacci) — First stable level
$171.99 (0.382 Fibonacci) — Attempt to restore trend
$187.55 (0.5 Fibonacci) — Major Supply Zone
A complete trend reversal will require a clear break and hold above $203.11 (0.618 Fibonacci), where the previous sell-off began.
Downside risk scenario
If SOL loses the $121–$126 support zone, the downside risk will significantly increase, with the next major support at:
$112.50 (Macro Support)
Falling below this level may expose SOL to a deeper correction area.
Momentum Indicator
RSI (14): 42.26
RSI remains below the neutral 50 level, indicating weak momentum, although selling pressure has eased compared to previous weeks.
📊 Key Level Summary
Resistance level
$152.74 (0.236 Fibonacci)
$171.99 (0.382 Fibonacci)
$187.55 (0.5 Fibonacci)
$203.11 (0.618 Fibonacci)
$225.26 (0.786 Fibonacci)
Support level
$121.83 (Fib 0 / Major Demand Zone)
$112.50 (Macro Support)
📌 Summary
Solana is currently in a critical long-term support zone after a prolonged bear market. While downward momentum is weakening, the possibility of a rebound exists, but as long as SOL remains below the $152–$172 resistance zone and the EMA cluster, the overall structure remains bearish. Bulls must reclaim key Fibonacci levels to confirm a rebound; otherwise, failing to hold the current support may open the door to $112.50.
$SOL
