The price of Solana (SOL) is fluctuating within key support and resistance levels, attracting the attention of traders and analysts.
Resistance at Channel Top
Solana faced rejection at the $205 level, indicating the strength of resistance that limits bullish momentum. Traders like Ali (@ali_charts) highlight $180 and $160 as critical levels to watch for any further weakness. Historically, price approaches to this upper boundary have triggered pullbacks, confirming traders' caution at high valuations.
Immediate and Deeper Supports
Attention now turns to the near-term support at $180, where Solana has previously consolidated and bounced. A successful defense of this level could drive recovery toward $195–200. However, if selling intensifies and $180 fails, the next significant support lies at $160, which previously served as a foundation for strong rallies.
Market Activity and Short-Term Outlook
Trading volume for Solana reached $3.83 billion in the past 24 hours, although this marked a steep 46.87% decline, indicating lighter activity behind the recent price recovery. If Solana holds above $190, the next psychological target is $200. Failure to defend $188, however, may lead to renewed consolidation.
The current situation with Solana's price illustrates a balance between resistance and support levels. Traders should closely monitor price reactions to testing key levels in the future.
