📊 $SOL Technical Outlook — Solana Market Update
$SOL price continues to show weakness after a long decline from the higher supply zone, where sellers repeatedly pushed it down.
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Market Structure:
The price has fallen below major moving averages, confirming a bearish trend.
Sellers remain in control with little bullish pressure so far.
Current Price Action:
$SOL is now consolidating above a strong support area near $128–$132.
This zone has previously acted as a strong demand level, and falling below this could trigger deeper losses.
What Bulls Need:
For a meaningful reversal, bulls must push SOL above $150.30 first, followed by higher resistance levels around $171–$187. Only a sustained break above these levels could change the downtrend.
Possible Short-Term Bounce:
Price may show a short-term bounce due to weakening selling pressure and oversold conditions — but the overall structure remains bearish unless key resistance is broken.
Key Levels to Watch:
📍 Support: $132 – $128
📍 Immediate Resistance: $150.30
📍 Major Resistance Zones: $171.99 | $187.55
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⚠️ Note: This is technical insight only, not financial advice. Always trade with risk management.
