Solana Price Hovers Near $145 Support Amid Bearish Pressure

Solana (SOL) price is currently under scrutiny as it hovers near a critical support level around $145. After a steady decline from its recent highs near $168, the popular Layer-1 blockchain token is facing increasing bearish pressure across both daily and hourly timeframes. Technical indicators are signaling potential trouble, and if the current support level breaks, Solana's price could experience a swift downward movement. However, the battle between bulls and bears is far from over. This analysis delves into Solana’s price action, examining chart patterns, moving averages, and Fibonacci projections to offer a data-backed prediction for what lies ahead: a breakdown or a bounce.

Solana (SOL) price is currently trading around $146, exhibiting signs of weakness across both daily and hourly timeframes. The Heikin Ashi candles on the daily chart indicate consistent bearish pressure, with the price struggling to stay above key moving averages. The SOL price recently tested the 20-day Simple Moving Average (SMA) near $145.11, which is now acting as resistance, while the 50-day SMA at $160.61 remains a significant barrier for any bullish recovery. The 200-day SMA at $174 is currently out of reach, emphasizing the broader bearish trend.

Solana has formed a lower high and a lower low pattern, classical signs of a weakening uptrend and a potential shift into a more sustained downtrend. If the $145 support level fails to hold on the daily chart, Fibonacci projections suggest a potential fall toward the $131–$125 zone, which is marked as the next key support cluster.

On the hourly chart, Solana price shows a short-term attempt at consolidation. The price recently bounced from the $142.80–$143.20 demand zone after a steep sell-off. However, momentum remains capped by the 100-hour and 200-hour SMAs at $152.80 and $153.50 respectively, both trending downward. There is a clear descending triangle pattern forming, with horizontal support at $145 and lower highs pressing from above. This typically signals breakdown potential. If the SOL price breaks below this support on high volume, a swift drop toward $135 could occur.

The current Solana price is sandwiched between resistance at $149–$152 and support at $143–$145. If the price drops below $145, Fibonacci-based targets can be calculated. Taking the recent high of $168 and the recent low of $142, a 1.618 extension gives us a target of approximately $100.4. Although $100 is an extreme target, intermediate support lies at $131.70, which aligns with previous consolidation zones in April.

Solana price could still recover, but it needs a clear breakout above $152, preferably with a bullish crossover of the 50- and 100-day moving averages. A sustained close above $160 would invalidate the bearish outlook and may push the SOL price back toward $180. Until then, the bears remain in control, and the hourly chart shows a bear flag structure rather than a bullish recovery. The flattening of the moving averages signals a potential accumulation zone, but not enough strength to rally—yet.

If the current support at $145 breaks, the short-term bearish target is $135, with a medium-term target of $125–$131 over the next two weeks. An extreme bearish target is the $100–$110 zone if macro sentiment worsens. Conversely, if bulls reclaim $152–$160 convincingly, the short-term bullish target is $168, with a medium-term breakout target of $185–$200 if macro bullish sentiment returns. Solana price is at a make-or-break level. A drop below $145 could trigger cascading stops and bring the price quickly to $135 or lower. On the flip side, a breakout above $152 could reignite bullish momentum. Traders should watch for volume confirmation and moving average crossovers before positioning. Until then, the path of least resistance is to the downside.