Solana stabilizes after choppy price action, but trend reversal isn’t confirmed | Credit: Hameem Sarwar
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Key Takeaways
Solana is stabilizing, but the rebound remains fragile, as it has reclaimed $130.
CMF and BBP have turned mildly bullish, yet other indicators still favor sellers.
SOL could push toward $148 only if it breaks above $130 with strong volume.
Solana (SOL) is attempting to stabilize after weeks of choppy price action. However, the recovery remains fragile as the cryptocurrency struggles to reclaim key levels.
While the recent price action indicates that downside pressure is easing, upside momentum has yet to mature into a convincing trend reversal.
With Solana’s price still below major resistance zones, the current setup points to a tentative rebound rather than a breakout, keeping the $150 target out of immediate reach.
On the 4-hour timeframe, the CMF has flipped above the zero line and is currently printing at positive levels, signaling a gradual return of capital inflows.
However, the move lacks aggression. The shallow slope indicates that buyers are stepping in cautiously, keeping upside follow-through constrained.
Similarly, the Bull Bear Power (BBP) is beginning to tilt in favor of bulls. A sequence of green histogram bars has emerged in positive territory, showing that buying pressure is starting to outweigh selling interest.
That said, the histogram remains modest. This reflects improving sentiment but not a decisive momentum shift.
Despite the improving short-term structure, the broader technical context remains restrictive.
The $150 level continues to stand out as a major supply zone, aligned with prior breakdown zones.
Unless Solana’s price sees a meaningful rise in volume, rallies toward this level are likely to face rejection.
SOL Price Analysis: Downward
A look at the daily chart shows that SOL’s price, although pegged at $125.63, struggles to break above the resistance level at $129.96.
Supporting this cautious momentum, the Awesome Oscillator (AO) has flipped its histogram bars green. However, the AO remains in negative territory, signaling that bullish pressure is present but still limited.
Adding to this pressure, the Directional Movement Index (DMI) shows that the positive +DMI remains below the negative -DMI, indicating that sellers still control the trend.
Meanwhile, the Average Directional Index (ADX) suggests that the recent price uptick is moderate, currently trading at 24.
This reading indicates that SOL’s price is in a moderate phase, with upward momentum lacking conviction.
The Fibonacci retracement levels add more context to the current trend. At the time of writing, SOL is trading very close to the 0 Fib level at $116.17, having struggled in the past few days to break out of its downward momentum.
The $129 zone has repeatedly served as a key level of resistance.
However, if buyers push the price above near-term resistance, the altcoin could signal the start of a bullish reversal and a move toward the 0.236 Fib level at $148.
Analysts Expect a Breakdown before Breakout
Meanwhile, some analysts have evaluated Solana’s current position. Among them, Crypto Tony stated that bulls will need to reclaim $128 before an actual rally begins.
“The bulls need to reclaim $128 to remain in control. If we can get a decent run at some stage in the next few weeks, then I expect us to hit $144,” he said on X.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
