Today, the market narrative shifted dramatically. The quiet warnings of yesterday became a resounding bearish alarm as Solana’s price structure fractured. A decisive plunge broke through key daily support levels that had previously held firm, confirming a significant transfer of power from buyers to sellers. This was not a mere dip but a structural failure, validated by a chorus of bearish confirmations across a suite of technical indicators. On timeframes from two hours to one day, the MACD executed bearish crosses, RSI values plummeted into bearish territory, and the Directional Movement Index signaled the start of a new, strong downtrend as the negative directional line established dominance. The outflow of capital, reflected in the CMF, underscored the conviction behind this move, painting a picture of an asset now firmly in a bearish grip.

Looking ahead, the outlook for Solana is decidedly bearish in the short to medium term. The force of the current downward momentum suggests that any rallies will likely be short-lived and serve as opportunities for bears to add to positions. A relief bounce toward the newly established resistance zone of $215–$220 is a plausible scenario, driven by the oversold conditions on shorter timeframes. However, this should be viewed as a counter-trend move within a larger downtrend.

The primary target for this corrective wave lies significantly lower, at the confluence of major weekly support around the $195–$200 level. This price zone represents a critical test for the long-term bullish thesis. A failure to hold this area could signal a more prolonged and deeper bear market, whereas a strong defense could lay the groundwork for the next major leg up. For now, all eyes are on the sellers.

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