Solana Price Stabilizes at $148 After Rejection Near $160

Solana (SOL) has entered a key demand zone between $146 and $148 after facing rejection near the $160 resistance level. This zone is significant as it has historically been an area of accumulation, suggesting potential buying interest. The price has stabilized in this range, with technical indicators showing bullish momentum. The Relative Strength Index (RSI) is recovering from oversold territory, and the Moving Average Convergence Divergence (MACD) has shown a bullish crossover on short-term charts. These indicators suggest that the structure remains healthy, with bullish potential still present.

Solana's price reached a weekly high of $159.99 on July 1 before undergoing a gradual retracement. The asset moved down to a local low of $146.17 on July 2, then rebounded and is now trading at $148.05. The price has held above the $146.73 zone several times, showing ongoing buyer presence. According to analysis, the current retracement places SOL back into a key support range that has historically triggered upward moves. The structure remains intact as long as the price holds above this zone.

Resistance stands at $154.21; a break above this level may lead to a retest of the recent $159.99 high. The price action of Solana has entered a critical compression zone. On the 4-hour chart, SOL broke above the June descending wedge but has since been rejected at 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 1-day 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, open interest has dropped, and options volume has plunged. Funding rates are now neutral to negative with long/short ratios above 2.0 on major exchanges, 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, 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.