- Solana’s price fell to a low of $129 as Bitcoin and Ethereum slipped below key levels.
- Bulls registered a modest bounce, pushing SOL back above $136.
- If bears regain control, the altcoin could slide toward a $100 low.
Solana (SOL) traded lower, down about 3% over the past 24 hours.
The altcoin staged a cautious recovery, with buyers driving the price back above $136 after it dipped to the daily low of $129.
Prices are down roughly 17% over the last week and about 26% from SOL’s three-month peak.
Despite the pullback, trading volume rose to more than $9.1 billion — a 76% increase in 24 hours — signaling heightened investor activity.
Amid broader market unease, Bitcoin slid to around $90,000 while Ethereum reached a low near $2,940.
So, does Solana’s rebound mark a pause in downward pressure, or are bears preparing another push lower?
Solana price — in the red, but back above $130
The sharp decline that preceded Solana’s minor recovery occurred as cryptocurrencies remained vulnerable to further downside.
SOL hit $129 on November 17, marking its lowest level since April 2025.
On major exchanges such as Binance and Coinbase, the drop erased much of the recent gains as bearish pressure increased and prices reverted toward levels seen earlier this year.
Cascade liquidations pushed crypto positions to more than $1 billion in the last 24 hours.
Overall sentiment pointed to selling that placed bulls on the defensive. Still, analysts note potential for renewed buying momentum.
What’s next for SOL?
The technical picture on the daily chart presents a cautiously optimistic yet uncertain outlook.
SOL is teetering along the edge of a clearly bearish structure, showing signs of divergence.
Notably, Solana is trading below key 50-day and 200-day moving averages.
Bears appear to control the downtrend and a potential death cross pattern could form.
However, this is only suggested on the daily chart. Despite strong sell signals from several oscillators, including RSI and MACD, bulls could still invalidate the bearish setup.
“SOL is putting in quite the reversal relative to the $BTC pair. And it’s not the only coin,” wrote Daan Crypto Trades on X.
A decisive hold above $130 could allow buyers to target the $145–$150 demand zone.
Previous consolidation in that region helped bulls approach $160–$180.
The token is currently consolidating below $140 and under the 100-hour SMA, facing immediate resistance at $136, which also aligns with a descending trendline.
A move above $142 may open the door for a recovery toward $150 and $155.
Failure to reach $140 risks another leg down, with support around $130 and $128.
A break below $128 could push SOL toward $120 or even $108.
In the short term, the main support area in the event of further declines could allow sellers to aim for $100.
Longer term, Solana’s prospects remain largely bullish. ETF dynamics, network upgrades and regulatory developments form an important mix of positive catalysts for supporters.