$SOL — Bearish trend intact, price consolidating near demand
On the daily chart, Solana ($SOL) continues to trade within a clearly defined bearish structure after failing to sustain momentum above the $200 region. The market has formed a consistent sequence of lower highs and lower lows, confirming that selling pressure remains dominant in the medium-term trend.
Price is currently trading well below the 50, 100, and 200-day moving averages, all of which are sloping downward and acting as strong dynamic resistance. Recent pullback attempts toward the $165–$170 supply zone have been met with firm rejection, reinforcing this area as a key overhead resistance where sellers continue to defend aggressively.
At the moment, $SOL is hovering around the $125–$130 support zone, showing signs of short-term stabilization after an extended decline. However, the lack of strong bullish candles and muted volume suggest this move is more of a consolidation phase rather than the start of a meaningful reversal. Buyers appear focused on defending downside risk instead of initiating fresh trend-following positions.
Overall, the current price action points to a bearish consolid SOL ation within a broader downtrend. A structural shift would require to reclaim and hold above the $160–$170 resistance range with expanding volume. Until that happens, the risk of a deeper retracement toward the $115–$120 support area remains elevated if selling pressure resumes.
