Solana (SOL) is facing severe selling pressure as it tests key demand levels, with bears gaining control after a failed breakout above all-time highs. The price has struggled to maintain momentum, and investors are now watching for critical support levels that could determine Solana’s next move.
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After an explosive rally earlier this year, SOL is now at risk of breaking lower as market sentiment turns uncertain. Top analyst Carl Runefelt shared a technical analysis on X, revealing that Solana might retest a horizontal resistance if it breaks down a bearish flag pattern. This key level will be crucial in determining whether SOL can hold its ground or if it will be dragged into a deeper correction.
If the bearish flag confirms a breakdown, SOL could drop to test lower demand zones, leading to further downside pressure. However, if bulls manage to reclaim key resistance levels, a potential recovery could be on the table. The coming days will be critical for Solana as traders look for signs of a trend reversal or continued bearish momentum.
Solana Enters A Critical Phase
Solana is at a crucial phase, with the next few days set to define whether it will continue its downtrend or establish a structural price change. After failing to sustain its bullish momentum above all-time highs, bears have taken control, pushing SOL into key demand levels. The price has now dropped to $220, and analysts are warning that lower levels may come in the following weeks.
Top analyst Carl Runefelt shared a technical analysis on X, highlighting that Solana might retest horizontal resistance around $222 if it breaks down a daily bearish flag. If this bearish pattern plays out, SOL could drop even further to test the $211 level, a major demand zone that will likely decide the trend’s fate.
However, if bulls manage to defend current levels, a push above supply zones could lead to a price recovery. The first step for a reversal would be breaking back above $222 and reclaiming it as support. If that happens, Solana could regain strength and challenge higher resistance levels in the coming weeks.
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The coming days will be decisive, as SOL stands at a turning point between a deeper correction or the beginning of a recovery phase.
Price Struggles Below Key Level
Solana is trading at $216 after losing the critical $220 demand level, a major support that bulls needed to…
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