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Solana Price Struggles in Downward Channel While Crypto Market Slumps
Solana (SOL) is under pressure once again, as market sentiment turns cautious and investors watch key support levels closely. The cryptocurrency is currently trading at $157, marking a daily decline of 0.96% and a weekly drop of 22%, erasing much of its late October gains. The recent selling spree has put substantial pressure on critical technical zones, highlighting the fragile state of the wider crypto market.
SOL Breaks Key Supports, Tests Lower Boundaries
The sharpest phase of Solana’s decline occurred at the start of this trading week. The token fell from $188, breaching its weekly $175 support and touching lows near $147 before buyers intervened around $150. This move signals that the $150 support zone is pivotal for Solana’s short-term stability.
However, Solana is not alone in its struggles. The total cryptocurrency market has shed approximately $300 billion in value, driven largely by Bitcoin’s brief dip below $100,000. This decline has dragged major altcoins lower, contributing to a cautious mood across digital assets with limited signs of recovery.
Technical Outlook: Midterm Bearish Trends
Solana’s recent slide brought SOL to the bottom boundary of its downward parallel channel, a pattern that has defined its movement since September 2025. Historically, the token has respected this channel, finding support and resistance at its edges.
Currently, Solana sits well below its 200-day moving average and the previously reliable $175 weekly support, reinforcing a midterm bearish outlook. Any attempt to push higher is likely to encounter significant resistance, making it difficult for buyers to regain control.
Resistance and Recovery Challenges
As the broader crypto market remains deep in the red, recovery attempts face additional headwinds. Negative sentiment encourages traders to sell into rallies, turning former support levels like $175 into formidable resistance zones.
If Solana cannot surpass this resistance, the token may revisit $150 or even slide lower, particularly if overall market conditions deteriorate. On the flip side, a more optimistic scenario would see SOL consolidate near the $175 level, attracting renewed investor interest before attempting a more sustainable upward movement.
Market Volatility Dictates SOL’s Next Moves
Much of Solana’s immediate future will depend on market volatility and investor confidence. While the crypto market remains fluid, caution is advised as traders assess stability before committing to new positions.
Investors are closely monitoring whether $150 can hold as a firm support, and whether broader market sentiment will cool down, allowing for renewed opportunities. Until then, Solana’s price action remains under scrutiny, with its next moves likely determining midterm trends for both SOL and the wider altcoin market.
Bottom Line: Solana’s Critical Juncture
SOL is navigating a tense moment as it tests critical support amid a bearish market backdrop. A break below $150 could exacerbate losses, while consolidation near $175 offers a potential lifeline for renewed buying interest. With negative sentiment dominating the market, Solana’s next directional move will be crucial for both traders and the broader altcoin ecosystem.
