Solana Price Drops 1.2% as Momentum Fades

Solana (SOL) price has experienced a pullback toward the $150.50 region after failing to sustain above the $154 resistance level. Despite a bullish breakout above a descending trendline resistance last week, the momentum has faded as traders reassess risk in a low-volume environment. At the time of writing, SOL is down 1.2% on the day, hovering near $150.65.

Solana's price action has entered a key compression zone. On the 4-hour chart, SOL broke above the June descending wedge but has since rejected the $154.20–$157.50 resistance cluster. This area corresponds with a volume node and the upper boundary of the descending triangle that has capped price action since April. The 1D chart shows SOL nearing the apex of a longer-term symmetrical triangle, formed between the $144–$154 consolidation zone and broader diagonal resistances. If bulls fail to defend the current higher low structure near $148, SOL may revisit the lower support trendline near $142.

Weekly Fibonacci levels indicate that SOL is struggling just below the 0.382 retracement at $152.37. A failure to reclaim this level decisively would shift bias back toward the 0.5 zone at $141.44. The weakening momentum and derivative market exhaustion are the primary reasons for the current price decline. The 4-hour Bollinger Bands have started to narrow, while candles are beginning to pierce below the mid-band ($150.87), signaling a bearish drift. At the same time, the EMA 20/50/100 cluster is coiling tightly between $149.44 and $151.42, indicating indecision and possible short-term volatility expansion.

Volume profile data shows a high-volume node near $145.76, making it a likely demand zone on pullbacks. Meanwhile, SOL failed to flip the $154.22 level into support, which has since acted as a firm rejection zone. If SOL breaks below $148, this confluence will likely be tested quickly. Derivatives data adds to bearish pressure: volume is down 12.87%, open interest has dropped 3%, and options volume has plunged 35.51%. Funding rates are now neutral to negative (-0.0004%) with long/short ratios above 2.0 on Binance, suggesting that overleveraged longs are vulnerable to liquidation in the current environment.

The 4-hour Bollinger Bands show a tightening squeeze, and SOL has just closed a candle under the midline, indicating a risk of downside expansion. The EMA alignment is beginning to tilt slightly bearish, with price now testing below the 100 EMA. VWAP analysis shows that SOL is currently trading below its session average of $152.33, adding to the short-term bearish tilt. The symmetrical triangle and Fib confluence around $150–$152 will likely define the next 24-hour breakout or breakdown move.

As long as SOL remains below $152.50, the near-term structure favors a retest of the $148–$145 support band. Below that, the next downside zone lies at $141.44, which is also the weekly 0.5 Fib level and the base of the larger triangle. To shift momentum, bulls would need a clean breakout above $154.20, followed by a push toward $160. A reclaim of the 0.236 Fib at $165.88 would be needed to flip the macro structure bullish again. Given current weakening indicators, traders should monitor for a liquidity sweep below $148 and possible bounce from the $145–$146 demand shelf.