Solana Shows Resilience Despite Price Dip: Key Levels to Watch

Solana (SOL) is currently down over 2% at $126, continuing a broader correction trend that began after its December 2024 peak. However, technical signals suggest underlying strength that could point to a potential recovery. A key bullish divergence lies in the volume-to-price action. Despite SOL’s price decline, trading volume has steadily decreased—especially during red candle sessions. This indicates a lack of strong selling pressure, often a sign that bearish momentum is weakening and buyers may soon regain control.

SOL continues to hold above the critical $120 support level, which has historically acted as a base for consolidations and rebounds. This stability is particularly notable amid broader market volatility, with major assets like Bitcoin and Ethereum experiencing sharp liquidation spikes. Solana’s Relative Strength Index (RSI) remains in neutral territory, signaling that the asset is neither overbought nor oversold. This balanced momentum provides room for potential upside if buying pressure builds.

For a bullish shift, SOL must first reclaim the $134 resistance and then break above the 50-day moving average, currently around $145. Maintaining support in the $120–$125 range is essential. A drop below this zone could open the door to a retest of sub-$110 levels.

While Solana’s short-term trend remains cautious, its technical resilience and weakening bearish volume suggest the possibility of a rebound if macro conditions stabilize. Traders and investors should closely watch the $120–$134 range for confirmation of the next directional move.