Market Overview for Solana/Tether (SOLUSDT) on 2026-01-12

Summary
• Price found support near $137.98 before reversing to close near $140.04 amid mixed momentum.
• Volume spiked during the break of key support and resistance levels, confirming directional shifts.
• RSI hovered near overbought during the late rally, suggesting potential for consolidation.
• Bollinger Bands showed moderate expansion during the morning rally, indicating increased volatility.
• A bullish engulfing pattern emerged near $139.50, suggesting short-term bullish potential.

Solana/Tether (SOLUSDT) opened at $139.06 on 2026-01-11 at 12:00 ET, reached a high of $144.40, touched a low of $137.98, and closed at $140.04 at 12:00 ET on 2026-01-12. Total volume for the 24-hour period was 1,343,093.47, with a notional turnover of $185,399,156.54.

Structure & Candlestick Formations

The 24-hour period was marked by a significant bearish breakdown from key resistance near $139.43, which was followed by a rebound and a strong push toward $144.40. A bullish engulfing pattern formed near $139.50 after the sell-off, suggesting short-term reversal potential. Price found support at $137.98, a critical level that appears to have halted further downside. The final 5-minute candle closed near the upper Bollinger Band, indicating strong buying interest in the final hours of the session.

Trend and Moving Averages

On the 5-minute chart, price closed above its 20-period and 50-period moving averages, signaling short-term bullish momentum. The 50-period MA, currently at $140.10, appears to be a key level to watch in the near term. On the daily chart, the 200-period MA remains a long-term reference at $136.80, suggesting a continuation of the broader uptrend.

Momentum and Volatility

Relative Strength Index (RSI) reached overbought territory during the late morning rally to $144.24, suggesting potential for a pullback. MACD showed a positive crossover during the morning session, with momentum building on the rally. However, the divergence between price and RSI near overbought levels may hint at short-term profit-taking. Volatility, as measured by Bollinger Band width, expanded during the morning push, indicating heightened interest and positioning.

Volume and Turnover

Trading volume surged during the critical support test at $137.98 and the subsequent rebound to $140.03, with one 5-minute candle printing over 198,858 contracts. Notional turnover was also elevated during these periods, confirming the strength of the directional moves. However, volume during the late push above $140.03 was more moderate, suggesting mixed conviction among traders.

Fibonacci Retracements

Fibonacci levels from the $137.98 low to the $144.40 high show the $142.58 (38.2%) and $141.45 (61.8%) retracement levels as key areas of interest. Price closed near $140.04, which is above the 61.8% level, suggesting potential for further upward movement if buyers remain active.

In the next 24 hours, Solana/Tether may test the $140.70–$141.52 range before facing near-term resistance at $142.08. Investors should watch for a potential pullback to the 61.8% retracement level as a key support zone. Traders may want to consider tighter stop-loss levels given the recent volatility and divergences in momentum indicators.