Over the past several weeks, $SOL /USD has shifted decisively into a bearish regime. What began as a gentle pullback from the mid-$200s accelerated in May, carving out a clear down-sloping channel that the price has now decisively broken to the downside. Friday’s close below the $140.50 support zone—a level that held since April—confirms sellers are firmly in control, opening the door for further losses.
First, the breach of $140.50 removes a critical floor that had been tested multiple times over the last two months. With that support gone, the next logical target is the lower boundary of the descending parallel channel, which currently sits near $130. A sustained move toward that area would align price action with the channel’s downtrend and allow momentum to gather.
Second, there’s an unresolved fair value gap around $125–126 (marked in blue). This zone acted as a strong support in late 2024 and into early 2025, and price rarely skips over such gaps without a retracement to “fill” it. Traders should watch for a bounce or consolidation once the gap is approached, but until it’s filled, the bias remains bearish.
Third, beneath that lies a large institutional order block at roughly $104. Should selling intensify—especially if a capitulation wick emerges—we could see a swift drop toward that demand zone. It would represent a significant retracement of 25–30% from current levels and may serve as the next major magnet for price.
On the indicators, SOL sits below all key EMAs, with the 9-period underneath the 14, which is below the 21, then the 55, and finally the 200. That stacking order is textbook bearish. Both MACD and RSI echo this mood; momentum has shifted firmly negative, and neither oscillator shows signs of divergence or imminent reversal at present.
