Solana remains in a prolonged corrective phase after failing to sustain acceptance above the $185–$200 supply zone, which coincides with the 0.5–0.618 Fibonacci retracement area. Repeated rejections from the descending trendline and continued inability to reclaim key moving averages confirm that the medium-term structure remains neutral-to-bearish.
Price is currently consolidating just above the $118–$123 cycle base, where selling pressure has slowed. However, the absence of strong impulsive upside follow-through suggests stabilization rather than confirmed accumulation.
EMA Structure (Bearish Bias)
20 EMA: $129.80
50 EMA: $133.90
100 EMA: $144.14
200 EMA: $156.24
SOL continues to trade below all major EMAs, with the 20 & 50 EMA cluster at $130–$134 acting as immediate dynamic resistance. The clear separation between short-term and long-term EMAs reflects a well-established corrective trend, where upside moves remain counter-trend unless price can reclaim the $144–$156 region.
Fibonacci & Price Structure
0.786 Fib: $224.22
0.618 Fib: $201.25
0.5 Fib: $185.12
0.382 Fib: $168.99
0.236 Fib: $149.03
Fib 0: $116.77
SOL remains firmly below the 0.236 Fibonacci level, confirming ongoing structural weakness. The current range above $118–$123 represents short-term demand absorption, but the lack of impulsive buying suggests distribution rather than a trend reversal.
A decisive breakdown below $118–$116 would expose SOL to renewed downside expansion, while a sustained reclaim of $149 is required to shift bias toward a broader corrective recovery.
RSI Momentum
RSI is fluctuating around 40–45, signaling neutral-to-bearish momentum. The indicator remains below the 50 equilibrium level, with no confirmed bullish divergence, indicating consolidation within a prevailing downtrend rather than reversal conditions.
📊 Key Levels
Resistance
$130–$134 (20/50 EMA)
$149 (0.236 Fib)
$169 (0.382 Fib)
$185–$201 (0.5–0.618 Fib)
$123–$120 (short-term demand)
$118–$116 (cycle base / Fib 0)
RSI: 40–45 — neutral-bearish
📌 Summary
SOL is consolidating near cycle lows after an extended corrective decline, with downside momentum slowing but no confirmed reversal signals in place. The broader structure remains bearish below $149, and only a sustained recovery above $169–$185 would indicate a meaningful shift in trend dynamics.
Failure to hold $118–$116 would likely trigger another downside expansion phase, while continued base-building above this zone may precede a short-term relief bounce within the broader corrective structure.
$SOL
