SOL Price Enters A Key Demand Zone—Can Solana Rebound On Strong On-Chain Fundamentals?

The tariff-war chatter is back on the table

The SOL price dropped below the average bands of Bollinger and appears to be heading towards the lower bands. However, the price range of around $128 is acting as a strong base, which has triggered a strong rebound on various occasions. On the other hand, the RSI is bearish, with the levels seeming to be poised to reach the lower threshold. In such a case, even if the price breaks below $128, the lower support of the Bollinger hold the rally. However, the range between $118.32 and $122.94 may act as the last point of defence.

The Bottom Line

Solana’s rejection at a key resistance has tilted the near-term bias bearish, and the chart now suggests buyers are losing control of momentum after a strong run-up. Still, the broader setup doesn’t look broken. Ecosystem fundamentals remain supportive, with expanding RWA activity, steady application-driven adoption, and liquidity staying active across DeFi. If market-wide risk sentiment stabilizes, SOL could resume its recovery from this consolidation phase. For now, bulls need a clean reclaim of resistance to negate the bearish weekend signal.

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