Solana Tests Key Support at $142—Will Bulls Defend the Uptrend?
Solana (SOL) has pulled back more than 24% from its recent high near $188, now retesting the 0.5 Fibonacci retracement level at $142—a critical threshold that could determine whether the medium-term bullish trend remains intact.
According to data from market analysts at Makrovision, the coming days will be pivotal as SOL navigates a cluster of strong technical supports.
Technical Breakdown
1. Trend Structure Under Pressure
- The retracement appears corrective, but lacks a strong bullish reaction at key levels.
- SOL is now testing the $142 low again, with no visible reversal signals emerging yet.
2. Crucial Support Levels
- $142 – Currently acting as the 0.5 Fibonacci retracement and immediate support.
- $135–$131 – Known as the “Golden Pocket” zone, this area combines Fib levels with horizontal price support.
- $126 – Considered the last defense for the medium-term bullish structure. A breakdown below this could invalidate the broader uptrend.
3. What to Watch Next
- A strong bounce from $142 or the Golden Pocket could propel SOL back toward $159 or even $170.
- A drop below $126 would signal a deeper trend reversal, placing bears in control.
Conclusion
Solana is at a technically decisive juncture. While a rebound remains possible from the current zone, bulls must act quickly to reassert control. Without a reaction, support may continue to erode, potentially leading to a trend breakdown. All eyes are on the $142–$126 range—how SOL behaves here could shape the trajectory for weeks to come.
Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
