SOL Technical Outlook: Solana Consolidates Near Major Demand as Selling Pressure Eases

SOL remains under bearish control after a prolonged decline from the $225–$253 supply zone, where price was repeatedly rejected near the 0.786 and 1.0 Fibonacci levels. This rejection marked a clear distribution phase and triggered a strong downside move.

The sell-off accelerated once SOL lost the $187–$203 region (0.5–0.618 Fib), pushing price below all major EMAs:

20 EMA – $136.8

50 EMA – $150.3

100 EMA – $164.9

200 EMA – $171.6

This EMA alignment confirms a firmly bearish structure, with every bounce facing overhead resistance.

Price is now consolidating just above the $132–$128 demand zone, which aligns closely with the Fib 0 level at $127.63. This area has historically acted as strong support, and current price action suggests sellers are losing momentum, increasing the probability of a short-term relief bounce.

For bulls, the first hurdle is reclaiming $150.30 (0.236 Fib). A daily close above this level would indicate early stabilization. A stronger recovery would require SOL to break above $172.00 (0.382 Fib) and then reclaim $187.55 (0.5 Fib), where previous breakdowns occurred.

A full trend reversal would only be confirmed if SOL regains $203.11 (0.618 Fib) and holds above it — a scenario that currently remains unlikely without a broader market shift.

On the downside, failure to hold $127–$132 could open the door to deeper losses, though demand in this region remains notable.

RSI at 42 reflects weak but stabilizing momentum, consistent with a consolidation phase rather than aggressive selling.

📊 Key Levels

Resistance

$150.30 (0.236 Fib)

$171.99 (0.382 Fib)

$187.55 (0.5 Fib)

$203.11 (0.618 Fib)

$225.26 (0.786 Fib)

Support

$132–$128 (major demand zone)

$127.63 (Fib 0)

$120 (extended downside support)

RSI

42 — weak but stabilizing

📌 Summary

SOL is consolidating above a key demand zone after a sharp multi-week decline. While oversold conditions and weakening sell pressure may support a short-term bounce, the broader structure remains bearish unless SOL reclaims the $172–$187 region with strength. Losing the $127 support would expose SOL to further downside risk.