Solana price holds firm above a key support level near $155, with participants watching closely to see if the market can reclaim momentum or slip into deeper correction.
Despite growing market pressure, Solana price has managed to hold its crucial support zone, keeping participants on edge as the next move could define the short-term trend. SOL’s recent retest near $155.83 showed strong defensive buying, even as technical indicators flashed mixed signals.
Key Support Zone Holds: Make-or-Break Moment for Solana
Solana’s price structure sits at a decisive make-or-break level as highlighted by the daily chart. The $155.83 support, nearly tagged to the cent in the latest retest, marks the final line of defense for bulls. The 50-day moving average is rolling over, while the 200-day MA has already been breached, showing momentum fatigue.
Solana holds its final support near $155.83, a level that could determine whether the trend recovers or slides into deeper correction. Source: The Wolf of Wall Street via X
A sustained close below this zone could confirm trend deterioration towards the $140 to $145 range, while holding above may invite a rebound back to the mid-$170s. The next sessions will be critical in determining whether Solana price maintains its structural integrity or slips into deeper corrective territory.
Weekly Range Shows Market Preparing for a Correction
Lennart Snyder’s weekly outlook identifies $122 as the broader range low that could act as the next significant accumulation point for long-term buyers. Current price movement continues to drift lower within the midrange, suggesting the market is pricing in a potential corrective phase before another rally attempt.
Solana’s weekly structure signals a controlled correction, with $122 emerging as the next major accumulation zone for patient buyers. Source: Lennart Snyder via X
For long-term investors, this setup presents a prime zone, where participants may find a favorable risk-reward ratio near $120 to $125. A weekly reclaim above $200 remains the invalidation level for the broader downtrend, as it would mark a structure-breaking higher high. Until then, Solana remains in a controlled correction mode within its long-term channel.
Indicator Weakness Confirms Short-Term Pressure
The chart points to a clear directional shift in Solana’s On-Balance Volume (OBV), which has now broken its prior uptrend and is sliding lower alongside price. This decline reflects weakening accumulation and growing sell-side dominance, confirming that buying activity has yet to return in strength.
Solana’s OBV trend breaks lower, signaling fading accumulation and strengthening sell-side pressure in the short term. Source: IncomeSharks via X
The OBV’s failure to stabilize alongside price supports the view that momentum remains bearish until sellers show exhaustion. Only a flattening OBV with rising volume on green candles would suggest that buyers are preparing to step back in, but for now, Solana price appears to be in the distribution leg of its cycle.
Solana Price Prediction: Deep Correction Still Possible
Technical outlook shared by robw00ds paints a bearish continuation setup on the weekly chart, indicating Solana could decline by up to 60% from current levels if the trend fails to stabilize. The chart shows price struggling to maintain higher lows, with a projected downside target towards $80–$85, corresponding to the previous accumulation range from mid-2023.
Solana’s weekly chart hints at a possible 60% correction towards $80–$85 if key supports fail to hold, keeping traders cautious of deeper downside risks. Source: robw00ds via X
This potential retracement would still fit within Solana’s macro cycle, where deep pullbacks have historically preceded large rallies. However, maintaining structure above $150 is essential to prevent broader downside. If buyers fail to defend this threshold, a full correction towards sub-$100 levels becomes increasingly likely for Solana price.
ETF Inflows Offer Hope Amid Market Weakness
Despite the recent decline in Solana’s price, Solana ETFs recorded $70 million in fresh inflows in a single day, signaling sustained institutional interest. According to SolanaFloor, Bitwise’s BSOL accounted for $66.5 million, even as both Bitcoin and Ethereum ETFs experienced outflows during the same period.
Solana ETFs attract $70 million in a single day, highlighting strong institutional confidence even as broader crypto markets face outflows. Source: SolanaFloor via X
This divergence reinforces Solana’s position as a favored altcoin among institutional allocators, reflecting confidence in its long-term potential despite short-term turbulence. ETF inflows of this scale often precede recovery phases as liquidity returns to the ecosystem, offering a glimmer of optimism for the weeks ahead.
Final Thoughts
Solana’s technicals currently show a fragile structure but solid fundamental support. The charts warn of downside continuation if $155 fails, yet the ETF inflow data highlights institutional conviction that remains intact.
If Solana price holds the $150 to $155 zone and OBV begins flattening, a gradual recovery towards $175 to $190 could take shape in the short term. Conversely, a breakdown below this threshold would likely accelerate losses towards $120 or lower before the next accumulation phase. Overall, the network’s liquidity strength and ecosystem demand suggest that even amid short-term pressure, the long-term outlook for Solana price prediction remains resilient.
