Solana trading near $130 today, stabilizing after a volatile week marked by heavy sell-offs and a looming death cross between its 50-day and 200-day moving averages.
This crossover, historically associated with prolonged downside cycles, has drawn renewed attention as traders assess whether the $121–$123 support zone can withstand mounting pressure.
With SOL still locked inside a months-long descending channel, the market is grappling with whether this support will hold or give way to a deeper move lower.
Trend Weakens as Death Cross Approaches
SOL’s technical structure remains broadly bearish, defined by a steep falling channel that has shaped every major swing since mid-September. Lower highs continue to reinforce the downtrend, with each recovery attempt stalling beneath the channel’s midpoint.
The coming days carry added weight: the death cross is forming for the first time since early 2023, signaling a potential shift toward a longer consolidation phase if buyers fail to regain momentum. The $121–$123 region, tested repeatedly this week, remains the last major barrier before a potential slide toward $107 and $95.
Key bearish pressures include:
A persistent sequence of lower highs since September A channel midline rejecting every bullish attempt An imminent 50-day/200-day EMA crossoverSupport Holds, but Momentum Remains Fragile
Despite the bearish setup, buyers have shown resilience at the lower edge of the channel. Recent candles feature long lower wicks and smaller bodies, evidence of aggressive dip buying around $121.
The RSI at 33 has bounced from oversold territory, forming a mild bullish divergence as momentum steadies while price presses on support.
Reclaiming the $144–$146 zone remains the first test of renewed strength. A break above $172, the channel’s upper boundary, would signal a meaningful trend shift.
Solana Technical Outlook: Price Stabilizes Inside a Falling Channel as Bulls Defend Support
Solana price prediction remains bearish as traders looking for safer entries may wait for a confirmed bullish candle inside the $121–$123 region. A close above $144 would validate early strength and open a path toward $146, $172, and possibly $205 if broader sentiment improves.
Solana Price Chart – Source: TradingviewHowever, failure to defend $121 would activate the death-cross narrative more aggressively, exposing Solana to deeper downside into early December.
If macro conditions stabilize, SOL could still transition from decline to accumulation, offering new entry points ahead of upcoming presale opportunities.
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