Solana’s sharp reversal from $190 confirms Patel’s warning, setting the stage for a potential retest of the $150 level.
Volume spikes failed to sustain momentum at resistance, reinforcing bearish sentiment and matching past breakdown behavior.
Patel’s chart shows key rejection at $190, with Fibonacci zones now guiding traders toward critical support near $150 and $105.
Solana’s price action took a sharp turn after testing the $190 resistance zone, echoing earlier predictions. The drop below $175 signals increasing bearish pressure, with potential continuation toward the $150 support zone.
Key Resistance Zones Trigger Reversal
SOL on Binance recently hit a weekly high near $190 before quickly reversing downward. This level coincides with a well-established resistance zone that ranges from $180 to $190. Technical patterns reveal a short-term breakdown, now pushing the asset toward lower Fibonacci retracement levels.
As in the analysis in the post shared above by Crypto Patel, the sentiment appears technically bearish. Yesterday, Patel predicted a likely breakdown from the $180–$190 range, calling it a classic trap. He has provided insights showing that the resistance in this region has historically rejected upward momentum.
The chart reflects that SOL previously broke out from a descending resistance line in mid-2023, beginning a bullish phase. Since then, prices moved in an upward channel until the early 2025 breakdown. This pattern reversal supports Patel’s forecast, emphasizing the $190 rejection as pivotal to the current decline.
Retracement Levels and Trader Reaction
Trading volume plays a significant role in confirming Patel’s projections. He pointed to volume spikes during key resistance retests, which later faded. The fall to $172 today reflects the precision of his earlier warning and suggests bearish continuation unless volume reverses the trend.
According to Patel’s technical readout, SOL may next test the $150 zone, a vital short-term support. This region aligns with lower Fibonacci levels and could serve as a decision point for traders. Still, this doesn’t mean everything is settled, especially with the price history near $105 showing prior recovery strength.
What’s even more compelling is how current volume patterns mirror past capitulations. Another important point to keep in mind is that any bounce will likely face renewed resistance at $175 and $190. Meanwhile, the 0.382 and 0.618 levels remain crucial markers during this correction phase.
Final Outlook
Patel has presented a detailed analysis that outlines possible whipsaws around $315 and $230 during future rallies. His long-term outlook still targets $1000, but short-term momentum favors the bears. Today’s price consolidation near $175 signals caution, with traders watching for decisive volume shifts.
The post Solana Fails at $190 Again, but This Indicator Now Points to Deeper Losses appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
