SOL consolidates around $130 as weekly structure remains range-bound
Solana is trading with limited weekly volatility, posting a modest gain of around 0.36% as price holds near $132.7. After a strong multi-month recovery earlier in the cycle, the asset has entered a consolidation phase, with buyers and sellers closely contesting control around a well-defined support area.
Weekly Price Structure Reflects Consolidation Phase
On the higher timeframe, SOL remains above a critical demand zone between $110 and $125, an area that has consistently attracted buying interest since early 2024 resistance before flipping into structural support, reinforcing its importance for trend continuation.
Price has repeatedly rejected moves below this range, suggesting buyers are defending the zone aggressively. At the same time, upside momentum has stalled below the $165–$180 supply band, where prior weekly highs were formed. This has resulted in a horizontal range, typical of accumulation or rebalancing phases.
Volume is holding near 22.5 million, reflecting healthy participation despite the absence of strong directional movement. The lack of expanding volume on recent pullbacks indicates selling pressure remains controlled, while buyers are not yet committing to a breakout attempt.
From a structural perspective, the market has not printed a decisive lower low, keeping the medium-term bullish structure intact. However, repeated failures near resistance suggest caution until confirmation emerges.
As long as SOL holds above the $120 region, the broader outlook remains constructive. A weekly close above $165 would strengthen bullish continuation expectations, potentially targeting higher liquidity zones. Conversely, a breakdown below support could expose the market to a deeper retracement. For now, range-bound price action defines the weekly narrative.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.