$178 Resistance Continues to Weigh on Solana
Solana is facing strong resistance around $178, which has led to multiple rejections. If the price fails to break through this level, the path is open toward $105.89. This level could potentially form a bullish double bottom if defended. The market structure and volume behavior suggest further downside unless buyers quickly regain control.
Key technical points :
- Rejection at $178 resistance : The price encounters strong long-term resistance, confluent with the value area high.
- Double bottom formation : A key support at $105.89 could trigger a reversal if tested and maintained.
- Auction rotation in play : The validation of the high value zone increases the probability of rotation toward the low value zone.
Despite several bullish attempts, buyers have failed to take control above this resistance zone. The confluence between the value area high and long-term resistance makes this region particularly significant. Furthermore, the failure to break through has confirmed a bearish short-term structure.
What Scenarios for SOL’s Price ?
As long as Solana trades below $178, the probability of another decline remains high. A move toward $105.89 is likely, and if this level holds, it could form a double bottom and initiate a reversal toward the resistance.
However, if this support fails to hold, it would confirm a breakdown and risk shifting the trend more bearish. Watch for volume signals near the lows to confirm buyer interest.
Solana faces significant resistance at $178, which is weighing on its short-term price structure. If buyers fail to regain control quickly, a test of support at $105.89 becomes probable. This level could prove crucial to prevent a double decline and offer a bullish reversal opportunity.
However, defending this support will be decisive. A breakdown would confirm a more bearish medium-term trend. Investors should closely monitor volume evolution and price action to adapt to the situation.
