Solana Faces Bearish Pattern Amid Market Tension
Key Takeaways
- Solana (SOL) is currently exhibiting a bearish chart pattern on the 4-hour timeframe.
- A break below the $136 USD level could trigger a 12% price drop.
- A close above $147.50 USD could reverse the trend and enable a rise to $180 USD.
- The TD Sequential indicator is flashing a sell signal.
- Despite bearish signals, many traders are betting on rising prices.
Technical Analysis: Solana Under Pressure
Solana is currently trading at around $137.50 USD — a decline of 4.76% over the past 24 hours. At the same time, trading volume has dropped by 10%, indicating waning interest from traders and investors.
The chart shows a “Head and Shoulders” pattern, which typically signals a trend reversal. The neckline of this pattern lies at $136 USD. If Solana breaks below this level on the 4-hour chart, the price could fall to around $120 USD — a decrease of approximately 12%.
Resistance from Downward Trendline
Since January 2025, the price has repeatedly encountered a descending trendline acting as resistance. Most recently, this line has once again not been breached. Additionally, a “Bearish Engulfing” pattern has formed — another sign of potential price losses.
However, a breakout above this trendline with a daily close above $147.50 USD could invalidate the bearish scenario. In that case, a rise to as much as $180 USD is conceivable — an increase of about 22%.
TD Sequential Indicator Warns of Price Decline
An experienced analyst on the platform X (formerly Twitter) points to the TD Sequential indicator. This tool is used to identify trend reversals. It previously gave a buy signal ahead of the recent 22% rally. Now, it is signalling a sell — reinforcing the idea that the current uptrend may be faltering.
Traders Still Betting on Rising Prices
Data from analytics platform Coinglass shows that many short-term traders are still betting on rising prices despite the warning signs. At the $135 USD price level, long positions worth $167 million USD are open. Meanwhile, at $140 USD, there are short positions totalling $83 million USD.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Retro Slots – The Best Slot Games With Retro Look at a Glance
Reading time: ~ 3 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 3 minutes
-
Versus Odds B.V. Casinos
Reading time: ~ 3 minutes
-
Danneskjold Ventures B.V. Casinos
Reading time: ~ 3 minutes
These highly leveraged positions suggest a tense market environment. For now, the bullish positions are preventing a sharper price drop. However, if market sentiment shifts, liquidations could follow.
Our Assessment
Solana is currently at a critical juncture. Technical indicators and chart patterns point to a potential correction. The $136 USD level is key. A break below it could lead to a significant decline. At the same time, traders are showing a high risk appetite and are betting on rising prices.
If you are invested in Solana or considering entering the market, closely monitor price movements. Pay particular attention to the $136 and $147.50 USD levels in the short term. Also, keep an eye on the broader market, as Solana often moves in tandem with Bitcoin.
Sources
- TradingView
- Coinglass
- X (formerly Twitter)
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency