Solana price bounces off $129 lows but is SOL out of the woods?

• Solana price dropped to lows of $129, falling as Bitcoin and Ethereum dipped below key levels.
• Bulls have shown a slight bounce with SOL above $136.
• If bears take further control, the altcoin could dip to lows of $100.

Solana (SOL) was trading in the red, down 3% in the last 24 hours.

However, the altcoin has staged a tentative recovery, with bulls climbing back above $136 after dipping to intraday lows of $129.

Prices are down 17% in the past week and 26% from SOL’s three-month high.

Nonetheless, trading volume has surged to over $9.1 billion, up 76% in 24 hours and signaling heightened investor activity.

Amid broader market jitters, Bitcoin’s price has slipped to $90,000, and Ethereum touched lows of $2,940.

So, does Solana’s rebound signal a slowdown of bearish pressure, or are bears regrouping for a fresh attack?

Solana price – negative but SOL back above $130

The sharp descent that preceded Solana’s slight recovery comes as crypto suffers further price vulnerability.

SOL plumbed depths of $129 on November 17, marking its lowest level since April 2025.

On major exchanges like Binance and Coinbase, the plunge wiped out most recent gains as bears extended losses and looked poised to revisit levels seen earlier in the year.

Cascading liquidations have seen rekt positions cross the $1 billion mark across the crypto sector in the past 24 hours.

It all points to selling that has bulls pegged in negative territory. Yet, analysts see a potential bounce.

What’s next for SOL?

The technical picture on Solana’s daily chart paints a cautiously optimistic yet precarious outlook.

SOL price teeters between a markedly bearish structure and hints of bullish divergence. 

Notably, Solana’s token currently trades below the key moving averages of the 50-day and the 200-day.

Bears are showing downtrend control with a potential death cross pattern.

However, this is only hinted at on the daily chart, and despite strong sell signals across multiple oscillators, including RSI and MACD indicators, bulls might have a chance to invalidate the picture.

“SOL putting in quite the reversal relative to its $BTC pair. And it’s not the only coin,” Daan Crypto Trades said on X.

A decisive hold above the $130 level could allow buyers to target the $145-150 demand zone.

Previous consolidations in the region have helped bulls advance toward $160-180.

The token is now consolidating and trading below $140 and the 100-hourly SMA, facing immediate resistance at $136, where a bearish trend line also sits.

A move above $142 could open the door to a recovery toward $150 and $155.

However, failure to clear $140 risks renewed downside, with support at $130 and $128.

A break below $128 may push SOL toward $120 or even $108.

In the short term, the main support area in case of a fresh decline could allow sellers to target $100.

Long-term, Solana’s outlook remains largely bullish. ETF momentum, network upgrades, and regulatory shifts all provide a major confluence for bulls.

The post Solana price bounces off $129 lows but is SOL out of the woods? appeared first on CoinJournal.