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Solana (SOL) remains under technical pressure after a prolonged pullback, with price now testing a critical demand zone. Short-term charts suggest sellers are losing momentum, while higher timeframes point to a possible relief rally. Analysts are assessing whether current support can trigger a rebound toward higher resistance levels.

Solana Price Holds Descending Channel Support

According to analyst The Cryptomist, the 30-minute SOL against USD chart shows a well-defined descending channel that has guided price action since early December 2025. Lower highs along the upper trendline highlight sustained selling pressure, while the lower boundary near $120 continues to attract buyers. This repeated defense of support suggests that downside momentum may be weakening.

SOURCE: X 

Volume behavior adds context to this setup. Downside volume spikes have gradually tapered, indicating potential seller exhaustion rather than aggressive distribution. Price consolidation around $121 reflects a decision point, where a confirmed bounce could shift short-term bias. Without volume expansion, however, any recovery may remain limited.

The analyst noted that a successful hold above $119–$120 could open a path toward $126. This level aligns with prior intraday resistance within the channel. A clean breakdown below support would invalidate the setup and expose lower levels.

Weekly Structure Signals Critical Cycle Support Zone

Meanwhile, analyst Leviathan highlighted a wider perspective on the weekly chart. The structure shows a multi-year uptrend that peaked above $250 before transitioning into lower highs at key Fibonacci retracement levels. Price is now testing the $115–$120 zone, which has historically acted as a pivotal support zone.

SOURCE: X

The absence of a capitulation volume spike suggests the correction may still be unfolding rather than concluding. Declining volume since the cycle top reflects cooling momentum, typical of late-stage market phases. The 0.5 Fibonacci level has capped rebounds, reinforcing overhead resistance.

Despite the caution, Leviathan pointed to the possibility of one more corrective bounce. A reaction from current levels could extend toward $170–$190 before any structural breakdown. This scenario depends on renewed demand and improving market sentiment.

Intraday Dip Sparks SOL Price Bounce Expectations

Additionally, analyst Crypto Tony focused on short-term volatility visible on the 1-hour chart. The recent decline from $131 to a wick low near $121.56 formed a potential reversal candle. Increased buying activity at the lows suggests sellers stalled near prior support.

Momentum indicators appear to be unwinding from oversold conditions. This setup favors a technical bounce if price reclaims the $123 level. The chart remains choppy, reflecting broader market indecision rather than a clear trend.

SOURCE: X

The analyst emphasized patience, noting that confirmation remains essential. Targets for a successful bounce range between $126 and $130. Failure to hold $120 would shift focus toward $118 as the next downside risk.

Overall, Solana price action reflects a market at a technical crossroads. Short-term stabilization and long-term cycle support are aligning, but confirmation remains pending. Traders continue to watch volume and key levels for directional clarity.

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