- Solana faces bearish pressure after rejecting $165-$175 Fair Value Gap zone.
- Support levels at $131 and $104 could trigger further downside if broken.
- A decisive break above $206 might spark a reversal toward $250-$300 targets.
Bearish Momentum After FVG Zone Rejection
Solana (SOL) is at a critical juncture, with analysts closely monitoring its price action following a breakdown in its bullish structure. According to a detailed chart analysis by CryptoPatel, SOL has entered a descending channel after rejecting the Fair Value Gap (FVG) zone between $165 and $175. This rejection has shifted momentum toward the bears, with the cryptocurrency currently testing its resilience around the $160 level.
The chart highlights key support levels at $131 and $104, suggesting potential downside risks if the price continues to weaken. On the flip side, a decisive break and close above $206 could invalidate the bearish outlook, potentially sparking a bullish reversal toward $250-$300.
Support Levels to Watch: $131 and $104
The technical setup indicates that SOL’s immediate fate hinges on its ability to hold above the $131 support. A drop below this level could accelerate selling pressure, pushing the price toward the $104 target. Traders are advised to watch volume trends and market sentiment, as a lack of buying interest could exacerbate the decline. Conversely, a reclaim of the $165-$175 resistance zone could signal a shift, with analysts eyeing a move toward $200 if momentum builds.
The current bearish trend is reinforced by SOL’s failure to sustain its earlier upward trajectory, a pattern that has left many in the crypto community on edge. With the market testing traders’ nerves, staying informed on Solana’s price movements is crucial. The coming days will reveal whether SOL can stabilize or face a deeper correction.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
