$SOL Rejected Near Resistance – Breakdown Confirmed or Bear Trap?
Current Price: $147.19
SOL has been on a steady downtrend, dropping over 5% today alone. After a brief bounce attempt to reclaim the $149 zone, price was rejected and now sits just above local support. The structure shows signs of weakness, and the next move is critical.
Key Resistance Levels:
• $148.50
• $149.30
Until these levels are reclaimed with strong volume, any bounce may simply be corrective. A failure to break these zones confirms continued bearish pressure.
Support Levels:
• $146.80
• $145.60
These are the immediate floors to watch. A break below could accelerate the decline toward deeper support zones.
Bullish Scenario:
If SOL reclaims $148.50:
• Target 1: $149.30
• Target 2: $150.80
Bearish Scenario:
If price breaks below $146.80:
• Target 1: $145.60
• Target 2: $143.90
Volume remains modest with no strong bullish surge in sight. This lack of buyer conviction supports the idea of further downside unless bulls step in decisively.