Solana just experienced one of its most brutal 48-hour periods in recent memory. Since our February 4 analysis at $97, SOL plunged to a devastating low of $67.31—a -31% waterfall that obliterated multiple support levels in a single move—before bouncing to current levels around $80.68.
The market is currently trapping both sides. Bulls are betting on the intraday momentum and the reclaim of short-term MAs, while bears are defending the macro resistance at 140-150. We favor a Consolidation scenario (50% probability) where SOL struggles to break 140 cleanly and eventually rotates lower. A rejection here targets a return to the 135.00 support floor. Traders should watch the 142.00 level closely—only a sustained close above this invalidate the immediate bearish thesis and opens the door for a test of 150. Until then, treat rallies as selling opportunities.
The support and resistance architecture matters here. Floor support sits at 127.05, with immediate resistance at 158.09 and ceiling resistance at 167.85. Current price at 133.92 sits comfortably above the floor but well below all resistance clusters. This positioning suggests downside risk remains elevated unless sustained buying can push price back toward 158–167 zone.
Comparing this to our prior outlook, the market has respected the overhead supply zones perfectly. We warned that relief rallies would likely be "dead cat bounces" rather than true reversals, and the daily chart proves this thesis is holding firm. The 12-hour and daily DMI readings show the -DI line continuing to dominate, and with the ADX remaining elevated above 30 on the 12-hour frame, the trend strength is undeniably bearish. Even more concerning is the Chaikin Money Flow (CMF), which remains negative across most intraday timeframes, signaling that funds are being distributed rather than accumulated during these pauses.
Solana has plunged to $126.40, marking a devastating -$13.60 (-9.7%) decline over just two trading days and testing critical capitulation levels last seen during November's severest correction phases. Today's technical picture presents an extreme bearish domination across all timeframes—with 29 of 30 indicator readings confirmed bearish—yet paradoxically, extreme oversold conditions (SRSI K at 0.00 on both 2H and weekly charts) historically coincide with capitulation bottoms and potential bounce setup.
Yesterday's analysis predicted sideways consolidation for 48 hours within a sustained downtrend. Today confirms that narrative: price is stalling exactly where predicted, oscillators are topping, and resistance is manifesting precisely at the MA levels flagged. What we're watching for now is the reversal of this bounce. The coming 24-48 hours will likely see another test of $147-$150 support, potentially followed by breakdown toward $140 if the macro bearish cycle maintains its grip. Every technical signal suggests this bounce is a gift for short entry, not a reversal.
Yesterday's analysis predicted sideways consolidation for 48 hours within a sustained downtrend. Today confirms that narrative: price is stalling exactly where predicted, oscillators are topping, and resistance is manifesting precisely at the MA levels flagged. What we're watching for now is the reversal of this bounce. The coming 24-48 hours will likely see another test of $147-$150 support, potentially followed by breakdown toward $140 if the macro bearish cycle maintains its grip. Every technical signal suggests this bounce is a gift for short entry, not a reversal.
Moving forward, we anticipate Solana will likely consolidate between 185 and 193 dollars over the next twenty-four hours as the market digests recent volatility. A sustained move above 199 dollars would confirm trend reversal, while a breakdown below 186 opens the door to testing the 179 to 180 support zone we highlighted as a more attractive accumulation area for patient long-term positioning.
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
Solana’s Technical Crossroads: Navigating the Pullback Solana has entered a fascinating technical phase where short-term bearish pressure meets longer-term bullish structure. Over the past 24 hours, we’ve witnessed classic retracement behavior as SOL pulled back from recent highs, creating what…
