Solana Drops 0.9% As Bearish Pressure Mounts

Solana (SOL) is currently trading near $145.30, experiencing a decline of over 0.9% in the last 24 hours. The asset has returned to a major demand zone near $144.50–$140.80 after failing to maintain its position above $150. This downward trend reflects weakening bullish conviction, as sellers continue to exert pressure on the asset.

The rejection from the $158 resistance earlier this week was followed by a steady decline into lower price territory. The current short-term structure shows SOL trading beneath its 20/50/100/200 EMA cluster, which is converging between $148.5 and $156.1. The latest 4-hour candle shows compression below this resistance band, with the price pinned near the midline of the Bollinger Bands and lower Keltner Channels narrowing around $141.70.

This flattening structure is echoed by the Average True Range (ATR), which has dropped to 0.89, indicating declining Solana price volatility. Meanwhile, directional indicators reflect growing bearish dominance: the 30-minute MACD has turned flat to negative (-0.12), and RSI sits at 44.08 with no signs of divergence, keeping momentum weak.

One key reason for the current downward trend is the breakdown in smart money structure. The price failed to hold above the previous CHoCH (Change of Character) zones near $153–$156 and instead reversed from a premium order block. The most recent liquidity sweep near $158 was followed by bearish market structure shifts, pulling the price back into the demand zone.

Volume profile analysis further supports this weakness. The visible range shows a low-volume node between $147 and $149, which has now turned into resistance. The price has been rejected multiple times from this zone, reflecting poor buyer absorption. Adding to the bearish bias, the Bull Bear Power (BBP) is trending negative again, and the current price remains well below the bull market support band, which sits at $150.70–$159. This indicates broader structural fragility. Meanwhile, the Chaikin Money Flow (CMF) remains stagnant, failing to confirm any fresh bullish inflows.

Solana’s current positioning within the broader pitchfork channel points to a critical inflection zone. The lower boundary support near $143.84 (S3 level) is being retested. A failure to hold this level may accelerate the downside toward $140.89, which is the final major demand block before a possible flush toward the 1.618 extension near $131.18. However, if bulls manage to defend this zone, a bounce toward the R1 pivot at $148.47 is possible. A clean break above $153.56 (EMA50) would then open the path to $156.54–$158.04, the zone where the breakdown originated. Only a strong close above this cluster can reignite Solana price spikes in the short term.

From a macro view, the daily chart shows SOL still respecting a long-term ascending pitchfork from late 2024. But a break below the midline here could alter the trend trajectory and expose deeper corrections. Unless SOL bulls can reclaim and hold above $148.47 in the coming sessions, the risk of further downside remains elevated. The broader market remains cautious, and Solana price may continue facing selling pressure if Bitcoin and Ethereum fail to regain their key support levels. All eyes are now on the $143–$140 zone to determine whether buyers can step in before further breakdowns unfold.