Traders watch for rebound signals as Solana tests critical support zone following sharp correction
Solana (SOL) has entered a decisive technical phase after dropping nearly 16% in recent sessions, testing a major support zone around $183–$185. The move follows a broader market pullback triggered by macroeconomic uncertainty and investor caution across digital assets.
According to the latest price action, Solana is trading within a crucial area that has historically acted as a strong accumulation zone. Technical charts highlight that SOL is attempting to stabilize at this level after a swift decline from its recent highs near $240.
The chart shows multiple resistance zones between $220 and $280, where selling pressure has previously intensified. Meanwhile, the green support band below current prices has provided a reliable base for prior rebounds, suggesting that buyers may attempt to defend this range once again.
BITX Analysts note that the current setup mirrors earlier consolidation phases seen before major upward reversals. “Solana’s structure remains technically sound as long as it holds above the $180 region,” said BITX market strategist. “Losing this level could open the door to deeper retracements toward the $155 zone, but a bounce here would reinforce the ongoing bullish market structure.”
Trading volume data also indicates increased accumulation activity near current prices, suggesting that longer-term investors may be taking advantage of the correction to re-enter positions. Historically, similar patterns in Solana’s chart have preceded sharp recovery rallies once momentum returns.
Market observers emphasize that the next move largely depends on broader sentiment. If Bitcoin and major altcoins stabilize, Solana could reclaim the $200 mark, turning the recent dip into a consolidation phase rather than the start of a prolonged downtrend.
“The $185 area is a technical battleground,”According to BITX senior technical analyst. “A confirmed rebound from this level could set up a retest of $210 and possibly $240 in the coming weeks.”
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.