Key Support Zone Holds for Now
Solana (SOL) was trading near $153.71 after falling 4.4% in the past 24 hours and 4% over the past week. Despite this decline, recent chart setups point to a possible shift in trend.
The 3-day chart shows SOL holding above the fair value gap (FVG) from July, which sits around $155 to $160. This level has acted as support during past corrections. Price is now reacting at this zone after a multi-week decline.
Analyst Batman said, “$SOL looks bottomed here,” noting that the token is showing signs of a reversal. A bullish divergence between price and the Stochastic Oscillator is also visible. While SOL has made lower lows, the oscillator is printing higher lows, often viewed as an early signal of changing momentum.
A golden cross has formed on the Stochastic as the faster-moving line crossed above the slower one in the oversold region. This adds to the case for a potential recovery.
Breakout Needed to Confirm Strength
A downtrend line drawn from earlier highs has been broken. If SOL continues to hold above the FVG zone and forms higher lows, price could push toward $175–$185. This area would likely serve as the next test of strength if momentum continues.
Volume and price action over the next few days will be important. Without a push above nearby resistance, the current move may remain limited.
Short-Term Bounce or a Deeper Pullback?
In the 1-hour chart, shared by MoreCryptoOnl, SOL bounced from a support zone between $151.18 and $158.46. This matches several Fibonacci levels and may be part of a corrective B-wave. The chart outlines resistance near $172, $179.75, and $180.99.
“Solana is moving up in the white B-wave,” the analyst suggested, though a rejection at resistance could still lead to a new leg down. A clear move above the $180 area would be needed to change this outlook.
Failure to hold above $151 could reopen lower targets around $126, based on the extended corrective structure outlined in the chart.
Traders Watch for Direction
Solana was trading in a zone that has historically supported strong reactions. Whether this bounce continues or fades will depend on how price behaves near resistance. Until then, market participants remain cautious while watching for confirmation in either direction.