- Solana price hits six-week low, but key technical support challenges sellers aiming for $112.00.
- Pullback from 200-day SMA and bearish MACD signals hint at a clear break below the $145.00–$140.00 support confluence.
- Five-month-old falling trendline, May’s peak serve as extra upside filters for SOL buyers to watch during recovery.
Solana (SOL/USD) remains under pressure for the third straight day, hovering near its lowest level since April 30. The token is down nearly 5.0% intraday, trading around $144.00 heading into Friday’s U.S. session.
This marks an extension of the early-week pullback from a multi-month-old resistance line, with the current move testing a key confluence of the 100-day Simple Moving Average (SMA) and a six-week-old ascending trendline support.
SOL/USD: Daily chart portrays battle with important support
Source: Tradingview
Bearish signals from the Moving Average Convergence and Divergence (MACD) indicator, combined with Solana’s (SOL/USD) failure to break above a five-month-old descending trendline earlier in the week, continue to support the current bearish outlook.
Sellers are now pressuring a key support confluence formed by the 100-day SMA and a six-week-old rising trendline, located in the $145.00–$140.00 zone at the time of writing.
However, a clear daily close below $140.00 is essential for bears to strengthen control. Such a move would open the door for a deeper decline toward a horizontal support region established since early March, near $112.00. A sustained break below $112.00 could see the pair slide toward the $100.00 psychological level, which may act as an interim support before exposing the yearly low around $95.30, marked in March.
On the flip side, any recovery will first face resistance from the descending trendline from January, located near $166.00, followed by the 200-day SMA around $175.00. A decisive break above this level would shift focus toward May’s peak near $188.00 — the final key resistance before buyers can regain control of the broader trend.
SOL/USD: Four-Hour chart prints bearish channel
Source: Tradingview
While the daily chart places Solana (SOL/USD) near a key support zone, the four-hour chart suggests there is still room before reaching short-term support—specifically, the lower boundary of a three-week-old descending trend channel. Oversold conditions in the 14-day Relative Strength Index (RSI) also hint at a potential corrective bounce before the next leg lower, possibly targeting the channel support around $134.00.
Despite this, bearish signals from the MACD indicator and SOL’s continued trading below the 200-bar SMA on the four-hour chart keep sellers cautiously optimistic.
A decisive break below $134.00 would bring the daily chart’s key support levels into play, including the horizontal zones around $112.00 and $100.00.
On the upside, immediate resistance is seen near $152.80 — the 38.2% Fibonacci Retracement level of the April–May rally. Further resistance awaits at a confluence of the 200-bar SMA and the descending channel’s upper boundary, both near $166.00. A sustained break above this area would be needed for bulls to regain meaningful control.
In summary, Solana bears appear to maintain the upper hand, though the path to the downside remains uneven.
