Solana (SOL) Technical Outlook – Downtrend Intact, Sellers Still in Control

Solana continues to trade inside a clear descending channel, with lower highs and lower lows confirming persistent bearish momentum. After attempting a bounce toward the 0.236 Fibonacci level at $152.74, SOL faced strong rejection and pulled back again — showing sellers are still dominating the trend.
SOL currently trades below all major EMAs:
20 EMA: $139.31
50 EMA: $155.47
100 EMA: $169.50
200 EMA: $174.30
All EMAs are sloping downward and stacked above price, reinforcing the broader downtrend.
The price is now hovering near the $132–$135 zone, which has acted as short-term support. A breakdown below this level may trigger a retest of the $121.63 major support (0 Fib level), the lowest point on the chart.
To gain bullish momentum, SOL must break above the descending trendline and reclaim $152.74 (0.236 Fib). A stronger recovery requires a push toward:
$171.99 (0.382 Fib)
$187.55 (0.5 Fib)
But for a true trend reversal, SOL needs a decisive close above $203.11 (0.618 Fib) — the key level where the larger breakdown began.
RSI remains weak at 41.54, indicating sellers still have control despite small relief bounces.
📊 Key Levels
Resistance Zones
$152.74 (0.236 Fib – immediate resistance)
$171.99 (0.382 Fib)
$187.55 (0.5 Fib)
$203.11 (0.618 Fib)
$225.26 (0.786 Fib)
Support Zones
$135–$132 (local support)
$121.63 (major support)
RSI (14)
41.54 — Weak momentum, bears still in control
📌 Summary
SOL remains firmly in a downtrend, trading below major EMAs and rejecting key resistance levels. As long as the price stays under $152, bearish pressure is likely to continue. A breakdown below $132 could expose $121.63, while a breakout above $152–$155 is required for early signs of recovery.
$SOL
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