Solana is trading at $146.60, currently stuck in a corrective structure beneath the 99 EMA. The price has pulled back from a recent lower high near $154, and now sits above minor support at $145.34. While overall trend momentum remains under pressure, the structure suggests consolidation, not breakdown — especially with consistent wicks rejecting downside near $145–$146.
The 7 EMA and 25 EMA are curving downward, hinting at short-term weakness. However, the bigger picture shows a broad range forming between $140 and $153, with demand visibly stepping in at each dip. If the price continues to hold above the $145 zone and flips $149–$150 (7/25 EMA confluence), we could see an upside push back toward the upper boundary of the recent range. Volume is decreasing on the recent drops, indicating selling exhaustion.
Trade Setup (Long Position Idea)
A potential long entry could form on reclaim of $149.50–$150 zone with a solid candle close above it. That would place price above the short-term EMAs and signal a reversal within this sideways structure. The risk is tight because a breakdown below $144.50 would invalidate the setup and likely lead to $140 retest.
Targets Based on Chart Structure
1. $153.90 – previous swing high and range resistance
2. $158.00 – aligned with the 99 EMA resistance level
3. $161.60 – prior breakdown area and medium-term supply zone
This is a range-play setup, with a bounce opportunity from support targeting the other side of the box. The move needs volume confirmation and might align with broader crypto market sentiment.
