Solana (SOL), a top market leader, displays weakness dropping below its price range. Despite decreasing volumes, charts indicate a battle between a potential short-term technical rebound and a broader downtrend. Key levels and scenarios for SOL are analyzed amidst FOMC uncertainties.
On the 2-hour chart for Solana, a glimmer of hope remains for buyers. An Order Block (zone of concentrated orders) located between $129 and $133 could provide temporary support and trigger a technical bounce.
In this scenario, Solana could regain some altitude and test the $138 to $142 zone. This move would present an opportunity for short-term traders, but it should be considered with caution, as it may only be a brief rally before another decline.
However, when zooming out to the 16-hour chart, the picture is far less optimistic. A significant Order Block in the upper portion of the range indicates heavy distribution, meaning that large wallets have sold massively in this zone, creating strong selling pressure. For the trend to become bullish again, Solana would absolutely need to reclaim the $134 level to have any hope of reaching $141. But with volumes in sharp decline, buying strength appears to be absent.
The most likely scenario remains a bearish reversal. The current price weakness, coupled with the heavy distribution observed, suggests that Solana could continue its descent.
If the bearish trend confirms, the primary target lies at the bottom of the price range. A return to the $120 to $117 zone before the end of 2025 is an increasingly probable scenario. This level corresponds to a support zone where buyers could resurface, but a break of this level would open the door to an even deeper correction.
In conclusion, while a short-term bounce on Solana is possible, the medium-term signals are predominantly bearish. The heavy distribution in the upper range and weak volumes are unmistakable signs. For traders, the most prudent strategy would be to wait and see if the $129-$133 support holds for a quick trade, while keeping in mind that the underlying trend favors a continuation of the decline. The $117-$120 zone will be the real test for Solana in the coming weeks, and could represent an accumulation opportunity for long-term investors.
Buy and secure your Solana on a Ledger wallet at half price. The 50% discount offer ends soon, take advantage:
Related content:
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
