Solana (SOL) Price: Tightening Pattern Hints at a Major Move Ahead

TLDR

• Solana (SOL) has been trapped between $124 support and $145 resistance for several days with no clear direction
• The crypto currently trades around $137 with a market cap of $76.94 billion and $6.36 billion in 24-hour volume
• Price sits in the middle of its range, which analysts consider weak territory for opening new positions
• A breakout above $145 could push SOL toward $150-$158, while a drop below $124 may send it to $118-$110
• The token is testing a descending trendline from mid-October, with $139-$146 serving as the first major resistance zone

Solana (SOL) remains stuck in a narrow trading channel. The crypto has moved sideways between $124 and $145 for multiple days without breaking out in either direction.

On-chain analyst Ali pointed out this defined range structure. SOL keeps testing both boundaries but fails to push through either level with conviction.

The price currently sits near $137, right in the middle of the channel. This zone offers unclear conditions for traders looking to enter new positions.

SOL has tried to break above $145 several times but faces rejection at the upper boundary. Buyers still show up near $124, though support at that level appears to be weakening.

Testing Both Ends Without Success

Ali’s analysis shows SOL hitting both the top and bottom of its range multiple times. Neither bulls nor bears have taken control yet.

This pattern typically signals balanced buying and selling pressure. Markets often see a surge in volatility once a tight range finally breaks.

The crypto will likely continue moving sideways until one side wins. Bulls need to reclaim $145, or bears must push a decisive drop below $124.

According to Coingecko data, Solana holds a market cap of approximately $76.94 billion. Trading volume reached about $6.36 billion over the past 24 hours.

At press time, SOL trades at $137 with a 2.58% gain on the day.

Long-Term Trendline Adds Pressure

Another analyst shared a chart showing SOL attempting to break above a descending trendline. This line has capped every rally since mid-October.

The price now sits just under that resistance line. The $139 to $146 zone represents the first major barrier for any upward move.

The chart displays a compression pattern with Solana making higher lows while repeatedly testing the $145 ceiling. This structure often appears before a breakout.

A close above $145 would mark the first strong move past the trendline. Such a breakout could open the path toward $175 to $190.

The analyst expects volatility to increase if buyers reclaim this level. A clean break above $145 might pull momentum toward $180 as the downtrend weakens.

The projected path shows a possible retest of the breakout level before moving higher. For now, SOL maintains a neutral-to-bullish setup.

Traders watching for the next move will focus on whether SOL can break above $145 or falls below $124. A breakout above could target $150 to $158, while a breakdown might push the price toward $118 to $110.

Ali described the current mid-range position as “no-trade territory” since entries here typically offer poor risk-reward ratios. The market waits for a clear signal in either direction before the next trend emerges.

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