SOL: Breakdown or Bounce Coming?
Solana is under heavy pressure across all timeframes.
On the 1H, price is stuck below key MAs ($124.04 vs MA25 at $126.59), forming a clean series of lower highs and lows.
On the daily, SOL remains suppressed under MA99 ($178) and recently failed to hold the bounce from $112—bearish momentum still dominates.
Key Levels to Watch:
Support: $122.75, $112, $82
Resistance: $130.55, $145, $178
Reclaiming $138–145 could flip short-term bias; otherwise, expect more downside.
Macro Watch:
The monthly chart shows a nasty rejection from $295 with declining volume (down 35% since peak) and MA rollovers—signs of a potential macro trend shift.
Trade Setup (Awareness Only):
Entry: $112–115 (if support holds)
SL: Below $112
Targets: $130, $145, $180+
Fundamental Angle:
Despite strong validator incentives and a deflationary model, Solana’s network congestion and fee volatility are dragging sentiment.
Set alerts. Watch volume. Wait for confirmation.
Bullish or Bearish on SOL next move?
#Solana #CryptoTrading #Altcoins
