Key Support Zone Tested Amid Market-Wide Correction
Solana (SOL) has seen a notable downturn this week, slipping below the $180 mark after a strong selloff triggered by broader crypto market weakness. The token, which recently traded as high as $250, is now grappling with renewed volatility as traders assess whether the latest decline signals a deeper retracement or a temporary pullback.
The daily chart shows Solana falling into a critical demand zone between $175 and $190, an area that previously acted as a strong accumulation region in August. The token’s sharp move downward follows a clear rejection from the $240–$260 resistance range, which had already proven difficult for bulls to break earlier this quarter.
“Solana’s rejection near the upper resistance band was technical in nature,” said one of BITX market strategist. “The asset had been overextended, and momentum indicators hinted at exhaustion long before the decline began.”
Below the current support, analysts identify a secondary buffer zone near $150–$160, corresponding to June’s consolidation base. A decisive daily close beneath this level could open the door for further downside, potentially revisiting the $130 region seen earlier in the year.
Volume data reveals an uptick in sell-side participation, suggesting that larger traders may be trimming exposure amid the uncertainty. However, some technical analysts argue that the structure remains intact as long as Solana holds above $175, emphasizing that this correction could provide a healthy reset after months of consistent gains.
“The broader uptrend isn’t broken yet,” According to BITX experts. “If buyers defend the $180 zone and reclaim $200 in the coming sessions, Solana could stabilize before its next major move.”
For now, market sentiment remains cautious, with investors closely monitoring how price action behaves around the $180 threshold. A sustained recovery above $200 would signal renewed momentum, while further weakness could indicate the start of a medium-term downtrend.
Until then, Solana’s performance around this support area will define the next chapter of its 2025 trading outlook.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.