Solana Price Tests $150 Support as Bears Gain Control

Andrew Chen
Solana Coins

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  • Solana trades below major moving averages, signaling short-term weakness.
  • $150–$155 remains the key support range to watch for a potential rebound.
  • A drop below $150 could expose SOL to the next demand zone near $135.

Solana (SOL) has entered a critical technical phase this week after slipping beneath its major trendline support — a move that has traders closely watching the $150–$155 range. As of writing, SOL trades around $159.57, down 1.2% in the past 24 hours, while gaining 0.4% against Bitcoin. The drop below the rising trendline suggests that the short-term bullish structure has weakened, setting the stage for potential volatility.

Technical Breakdown: Moving Averages Turn Bearish

A review of the daily chart shows that Solana’s price has been under steady pressure since its early-October highs. The token now trades below both the 50-day EMA and 200-day SMA, signaling that bearish momentum is strengthening. Increased trading volume on recent declines reinforces the view that sellers are in control.

Analysts point out that holding the $150–$155 zone is crucial. A sustained defense of this area could trigger a relief bounce toward $170–$175, which aligns with the 9-day EMA, often a short-term resistance zone.

$150 Support: Solana’s Make-or-Break Moment

The $150 mark is now Solana’s key battleground. Maintaining this level could indicate that a temporary recovery is forming after several days of selling pressure. However, if this floor fails, the next major demand zone lies near $135–$140, a region that previously attracted strong buying interest.

Also Read: Rothschild and PNC Drive Solana ETF Inflows as SOL Price Surges

Market sentiment remains cautious. Traders are watching closely to see whether the coming sessions will confirm a stabilization or trigger another leg lower.

All Eyes on the $150 Line

Solana’s next move depends on whether bulls can defend the $150 support zone. A rebound could restore short-term optimism, while a breakdown would likely deepen the correction. With technicals showing strain, the market’s response in the coming days may define Solana’s near-term trajectory.

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.

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