After losing nearly 70% of its previous gains, SOL has now dropped into a crucial support zone that once acted as a major resistance barrier. This level previously capped upside attempts, making the current retest structurally significant.
The weekly OBV continues to trend sharply lower, reinforcing the broader bearish momentum and suggesting that buying pressure remains weak. Adding to the caution, the current weekly candle opened below the prior week’s close, which had formed a Doji Star, a pattern often associated with trend exhaustion and potential continuation to the downside.
A similar structure previously triggered a sharp decline from above $250 to nearly $125, followed by months of sideways consolidation. If history repeats and this pattern plays out again, Solana (SOL) price could face another deep pullback, with the next major support zone emerging around $50 or potentially even lower.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
About Author
