SOL Technical Outlook: Weakness Persists in a Volatile Market

The Solana (SOL) cryptocurrency is facing a significant downtrend, showing signs of weakness as it struggles beneath key moving averages. Recent technical indicators suggest a lack of bullish momentum, leading to uncertainty about its price trajectory.

Key Takeaways

SOL remains in a downtrend since failing to maintain value above $140 earlier this year.
The current price is below the 9-day MA ($123.75) and 21-day MA ($132.30), indicating control by sellers.
Technical indicators like RSI (35.53) and MACD show weak momentum and bearish trends.
Solana is experiencing corrections after a recent rally and is currently trading within a crucial range ($112–$115 for support and $123–$130 for resistance).

SOL Technical Outlook Shows Weakness Amid Broader Market

Current Market Analysis

Daily Chart Indicates Continued Downward Pressure

On the daily chart, Solana (SOL) is clearly in a downtrend, which began after it failed to maintain levels above $140 earlier this year. The price is trading below the 9-day moving average (MA) of $123.75 and the 21-day MA of $132.30, indicating that sellers are actively controlling the market in the short term. The Relative Strength Index (RSI) is currently at 35.53, suggesting weak price momentum and nearing oversold territory. Meanwhile, the Moving Average Convergence Divergence (MACD) indicates a negative crossover, with the MACD line at -1.80 and the signal line at -2.04. Although the histogram appears to show slight improvement at -3.85, this still points toward ongoing bearish sentiment.

Technical Indicators
(Source: TradingView)

Weekly Chart Reflects Ongoing Correction

Assessing the weekly chart, it is evident that Solana is still undergoing corrections following a strong rally in 2024–2025. Currently, the price is well below both the 9-week and 21-week moving averages, which have begun to trend downward, indicating a weakening broader trend. Even though SOL is managing to stay above the $110 zone for now, the weekly structure has not yet confirmed a solid base formation.

Limited Bullish Pressure Observed

Upon closer examination, the Bollinger Band Percent (BBPT) indicator remains below the zero line, highlighting that bullish pressure is still constrained. While selling momentum has slowed compared to previous weeks, buyers have yet to regain control, resulting in the market remaining range-bound.

Currently, the support level is positioned around $112–$115, while resistance levels are identified between $123–$130. Unless there is a noticeable improvement in market momentum, SOL is likely to continue facing pressure within this established range.