SOL Technical Analysis
Solana continues to attract interest among investment funds despite the selling pressure in Bitcoin and Ethereum. According to reports, while capital outflows were seen from Bitcoin and ETH products, Solana products recorded approximately 48.5 million dollars in net weekly inflows, indicating that investors continue to maintain confidence in SOL.
On the SOL side, the short-term structure continues to move in the form of a descending channel. Recent price action is squeezed between the lower–middle band of the channel, and upside attempts remain limited for now. However, the important point within this structure is the possibility that a potential reaction could come simultaneously with a channel breakout. In other words, the target here is not just a price level, but also whether the structure will change or not.
In the short term, the main area where the price is holding is the 122–120 band. This area serves as both a horizontal support and an in-channel balance point. As long as the price stays above this region, upward attempts remain technically valid. As long as downward dips do not become permanent, the structure is not considered broken.
On the upside, the truly critical region is clear:
- 134–135 band (Fibo 0.618 – 0.66)
An advance toward this region would also mean a break of the upper trend of the descending channel. In other words, when the price reaches 135, it will not only have reached a target but will also have exited the descending channel structurally. For this reason, this area is both a target and a decision point in the short term.
If the 135 region is broken with volume, the price may find a more comfortable path toward:
- 140–146 band
This region represents the next strong resistance and the area where previous selling was concentrated.
In the downside scenario, the level to watch is clear:
- Closes below 120
In this case, the descending channel continues to work, and the price comes under pressure again toward the 116–112 band. In this scenario, the short-term bullish expectation weakens.
These analyses, which do not provide investment advice, focus on support and resistance levels that are thought to create short- and medium-term trading opportunities depending on market conditions. However, the responsibility for trading and risk management belongs entirely to the user. In addition, it is strongly recommended to use stop loss for the positions shared.
