SOL attempts a short-term rebound, but broader structure continues to favor downside pressure.
Solana (SOL) traded near the $124 level after a brief recovery attempt, but price action remains constrained within a broader bearish trend. Despite small intraday fluctuations, the token continues to underperform its earlier highs, reflecting ongoing weakness in market structure and cautious trader sentiment.
Solana Price Action Remains Bearish
Solana respecting a descending trendline, with multiple failed attempts to reclaim higher resistance zones. Each bounce has been met with selling pressure, confirming that lower highs remain intact. While price has reacted slightly from a local low, the move lacks follow-through, suggesting it may be corrective rather than the start of a trend reversal.
On the downside, SOL is hovering just above a near-term support area, which has so far prevented deeper losses. A sustained break below this zone could expose price to further downside risk. On the upside, overhead supply zones between the mid-$130s and mid-$140s continue to act as strong resistance, limiting recovery attempts.
Trading volume has remained relatively muted during recent price moves. This lack of strong participation indicates limited conviction from buyers, making upside breakouts less likely in the near term. Historically, meaningful trend shifts in Solana have required clear volume expansion, which is currently absent.
Unless Solana can break above the trendline and hold higher levels, the broader bias remains cautious. Short-term rebounds may occur, but without structural confirmation, they risk fading quickly.
For now, Solana remains in a consolidation phase within a dominant downtrend.
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.