Solana (SOL) has plunged to $101.89, confirming a strong bearish continuation as the token breaks below key technical levels. The fall below the $112 support zone—once the lower boundary of a rising wedge—has shattered any near-term bullish outlook, positioning SOL at its lowest level since February 2025.
Rising Wedge Breakdown Sparks Bearish Continuation
The collapse through the wedge pattern on the 4-hour chart has validated a bearish continuation, ending hopes of a sustained recovery. With this breakdown, the prior bullish structure is invalidated, and sellers have firmly taken control.
The current downtrend appears reinforced by price action trading well below all major EMAs:
- 20 EMA: $112.81
- 50 EMA: $117.95
- 200 EMA: $133.16
The failure to hold these levels—especially the short-term 20 EMA—reflects persistent selling pressure and fading buyer interest.
Technical Indicators Confirm Bearish Grip
- RSI (Relative Strength Index): Drops to 29.55, signaling that SOL is in extreme oversold territory. However, oversold doesn’t always mean reversal—especially without volume support.
- Stochastic RSI: Deeply oversold, with %K at 10.10 and %D at 3.37, yet no signs of reversal have emerged.
- MACD: A widening bearish divergence, with the MACD line at -1.95 and signal line at -3.17, further suggests accelerating bearish momentum.
Volatility Spikes as Price Breaks Below Bollinger Band
SOL has now breached the lower Bollinger Band ($100.14), marking a sharp increase in volatility. Historically, such breaches have led to short-term relief rallies, but current market structure and sentiment provide little support for a sustained bounce.
Fibonacci Breakdown Sets Stage for $90–$55 Target Range
Solana’s rejection from the $126–$130 resistance zone, followed by the break below the 1.0 Fibonacci level ($112.16), has opened the door to deeper losses.
Key downside targets:
- 1.618 Fibonacci extension: $90.34
- Longer-term risk zone: $55–$60, especially if macro conditions worsen
The $90–$92 range now acts as a critical support zone—both technically and psychologically—as bulls look to defend against a deeper capitulation.
What’s Next for Solana?
Investors are now watching closely to determine whether current price levels represent a fresh accumulation opportunity or if the token is headed toward further losses. For SOL to regain bullish footing, it must:
- Reclaim the $114–$122 zone
- Break above key EMAs with strong volume
- Form a higher low on the daily timeframe
Until then, the downtrend remains intact, and the risk of another leg lower persists.
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