Solana is falling right at the moment when the altcoin market is under the most pressure. This week, a series of negative developments have weighed heavily on sentiment: strong ETF outflows, risk-off behavior, and fading expectations of a Fed rate cut in December. All of this makes it difficult for SOL to form any sustainable recovery.
On the 4H chart, SOL is sliding within a clear descending channel and has repeatedly been rejected at the upper trendline. The 150 USD level is now acting as a short-term resistance — every touch is pushed back immediately, showing how weak the buying pressure is.
If SOL continues to fail to break above 150 USD, the most likely scenario is a move back down to the 140 USD (TP1) zone. And if market sentiment remains bearish, a deeper target lies around 130 USD (TP2) — where the channel bottom aligns with a previous demand zone.
With negative news flow, weakening liquidity, and a technical structure fully favoring the downside, the short-term trend of SOLUSDT remains in the hands of the sellers. Any bounce here is more likely to become an opportunity for short positions rather than a true reversal signal.
On the 4H chart, SOL is sliding within a clear descending channel and has repeatedly been rejected at the upper trendline. The 150 USD level is now acting as a short-term resistance — every touch is pushed back immediately, showing how weak the buying pressure is.
If SOL continues to fail to break above 150 USD, the most likely scenario is a move back down to the 140 USD (TP1) zone. And if market sentiment remains bearish, a deeper target lies around 130 USD (TP2) — where the channel bottom aligns with a previous demand zone.
With negative news flow, weakening liquidity, and a technical structure fully favoring the downside, the short-term trend of SOLUSDT remains in the hands of the sellers. Any bounce here is more likely to become an opportunity for short positions rather than a true reversal signal.
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Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
