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Key Takeaways:
- SOL is at a dual-pattern resistance zone near $145, where both bullish and bearish outcomes are possible.
- Falling trading volume and neutral RSI suggest traders are cautious and awaiting confirmation.
- A $21M inflow to exchanges could indicate potential sell pressure, offsetting short-term bullish hopes.
Solana (SOL) is testing a technically and sentimentally crucial level near $145, after gaining 14% over the past week. Traders are eyeing this price zone as a decisive battleground, as it coincides with both the upper boundary of a descending channel and the neckline of a bearish head-and-shoulders pattern—marking a dual-threat technical setup.
With mixed signals on volume, sentiment, and price structure, SOL finds itself at a critical inflection point.
Weak Volume Undermines Bullish Push
As of press time, Solana was trading at $144.3, registering a modest 2.35% daily gain. But according to CoinMarketCap, 24-hour trading volume has dropped by 15%, indicating that enthusiasm might be fading even as the price inches higher.
This divergence between price and volume signals weak upside momentum. Many market participants appear to be waiting on the sidelines, likely looking for a clearer breakout above $148 or a definitive bearish rejection.
Technical indicators reinforce this indecision: the Relative Strength Index (RSI) sat at a neutral 46, and SOL remained under its 50-day Exponential Moving Average, suggesting bulls have yet to take control.
Bearish Patterns Still Loom Over SOL’s Price
Zooming out on the daily chart, Solana’s price has struggled to breach the upper descending channel since May, with each attempt being followed by a pullback. If the asset fails to close above $148 with strength, another rejection remains likely.
Adding to the caution is the presence of a bearish head-and-shoulders pattern, whose neckline aligns with the current resistance zone. These overlapping patterns amplify the risk of a reversal unless bulls manage to invalidate them with a strong breakout.
However, a confirmed breakout above $148 could flip market sentiment, potentially propelling SOL by over 20% to reach $184.
Bullish “W” Pattern or Exchange Dump Incoming?
Despite bearish concerns, some analysts are seeing potential green shoots. A well-followed trader on X highlighted a possible “W” formation developing around the recent low of $125.99, suggesting a potential rally toward the $150–$160 zone.
$SOL Setting Up For a Major Bounce?$SOL is showing signs of recovery after hitting the major low at $125.99. A potential W-shaped pattern is forming again, hinting at a bullish reversal toward the $150–160 zone.#SOL #Tradingview pic.twitter.com/txgyHO4ihs
— BitGuru 🔶 (@bitgu_ru) June 27, 2025
Yet, on-chain data paints a contrasting picture. CoinGlass revealed a sharp $21 million inflow of SOL into centralized exchanges in the last 24 hours. Historically, such inflows precede increased selling pressure as traders prepare to liquidate holdings.
Solana’s price action is hanging in the balance, with $145 serving as a key pivot point. Bulls must secure a breakout above $148 to sustain momentum, while failure to do so could lead to a renewed downtrend.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Solana Futures Surge as Whales Bet Big at $145
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