Solana (SOL) Consolidates Around $170 After a Strong Bullish Impulse

After a strong bullish impulse, Solana enters a consolidation phase. Find our full analysis and current technical outlook for SOL.

After a strong bullish impulse, Solana is now consolidating.

Technical Analysis of Solana (SOL)

Solana consolidates around $170 following a strong bullish impulse. The nearly stable weekly change (+0.05%) reflects a market in a breathing phase. However, rising spot volumes by 16% (≈10.15 B) confirm renewed interest from investors.

On short, medium, and long-term horizons, momentum remains bullish, maintaining a constructive technical structure. Momentum is recovering, supporting continued upward correction.

Solana (SOL) Technical Levels

Solana trades between key technical levels. Resistances at $184, $220, and $243 represent potential distribution areas, whose breakthrough could promote bullish extension. Conversely, supports at $140, $123, and $108 correspond to historical demand zones; breaking them would expose the market to continued decline.

The monthly pivot point at $133 serves as a benchmark for assessing the underlying bias. Finally, the high value area at $237 and the low value area at $143 delimit market equilibrium; exceeding these bounds could trigger directional imbalance.

This current technical analysis was conducted in collaboration with Elyfe, and 0xhugzer, investors and educators in the cryptocurrency market.

Derivatives Analysis (SOL/USDT)

Market data suggest a wait-and-see mood. Open interest is falling, indicating position withdrawal and possible disengagement. The CVD shows selling dominance, translating into market pressure on the selling side.

Liquidation activity remains low, with no forced unwindings or strong directional bias. Finally, the positive funding rate highlights a moderate edge, without excessive bullish sentiment. Bearish liquidation zones lie at $176–182, $185, and $187, and bullish liquidation zones at $160–156, $153.5–151, $150–146, and $141–136. These zones concentrate orders, and crossing them could accelerate volatility, with stronger pressure on the buyer side given the greater number of levels identified.

Forecasts for Solana (SOL) Price

Bullish Scenario:

A break above the $176 resistance could propel Solana to retest the $184 resistance. A breakout above this level may pave the way for a continuation toward $220, the next resistance.

Bearish Scenario:

If the price drops below the $140 support, it could continue to decline toward the next support at $123. A breakout below this level may open the door for further decrease to $108.

Comment:

The bias remains bullish, but U.S. macroeconomic indicators and news related to the global geopolitical context will be decisive to confirm this scenario. Rising inflation in the U.S. could exert pressure on the dollar and favor cryptocurrency performance. Conversely, any escalation in the geopolitical sphere could boost the dollar and put pressure on cryptocurrencies.

Conclusion

Solana is consolidating after a strong bullish impulse, in an overall still favorable technical context. The trend remains well oriented, with renewed interest from investors. The market trades between key levels, whose break could trigger directional movement.

On the derivatives side, caution predominates: position withdrawals, moderate selling pressure, but without excessive tension. Sentiment stays slightly positive, in an environment dependent on the macroeconomic and geopolitical context.

In this context, it will be essential to closely monitor price reactions at strategic levels to confirm or adjust current forecasts. Finally, remember that these analyses are based solely on technical criteria, and cryptocurrency prices can change rapidly due to other more fundamental factors.