Solana faces strong selling pressure under $150, with $137–$140 acting as a key decision zone.
Repeated rejections at $153 and clear RSI divergence reflect tightening momentum as price coils inside the wedge.
Solana dominates blockchain activity, holding roughly 100 million daily transactions despite muted price action.
Solana continues to compress within a wedge structure, as sellers press into support between $137 and $140. This price action now controls short-term direction, with resistance closing in and the breakout window narrowing.
Chart Pressure Mounts Within Bearish Wedge
Solana is trapped between descending resistance at $153 and firm support near $137. Volatility has narrowed, and buyers have lost momentum under the $150 rejection. The price is tightening, and traders are watching closely for the next move.
At this stage of the structure, silvertongued analyst Jeremy pointed to the failed bounce from $141 as a sign of fading bullish strength. Solana has now been rejected from resistance three times, confirming $153 as a firm ceiling. The current structure shows bearish intent, with volume muted and RSI barely holding above 50.
Source: (X)
Looking at the RSI, he notes a clear bearish divergence at recent highs, which further limits upside strength. This divergence lines up with the lack of follow-through from buyers, keeping Solana locked inside its wedge. The chart setup shows pressure building under key resistance.
Following that rejection, Jeremy identified the $137–$140 demand zone as the critical support area to watch. This range aligns with the wedge base and horizontal support. A breakdown here could open the door to $127, where Solana last found support in late June.
Solana Dominates Blockchain Activity Despite Price Range
Solana is crushing the blockchain competition in daily transactions, holding steady above 100 million since early April. No other network comes close to this activity, and the numbers tell the story.
According to The Solana Post, even during a dip in June, Solana recovered fast, reclaiming its lead within days. Ethereum, BNB Chain, and Polygon all sit far below, with daily transactions mostly under 20 million. Solana stands alone at the top, supported by nonstop on-chain demand.
https://twitter.com/thesolanapost/status/1941416496883958252
From the Artemis chart, the green line representing Solana stays well above the rest, with frequent spikes showing strong user activity. The consistency in this data confirms real demand, even while price action stays capped. BNB’s slower curve and Ethereum’s flat levels only make Solana’s lead more obvious.
Solana’s network strength is undeniable. The price may be trapped now, but demand continues rising fast. If this usage pressure spills into price, the structure could break wide open.
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