- Solana broke its bullish trend and now moves within a descending channel below key resistance at $175.
- Analysts identify $131 and $104 as critical support zones determining Solana’s short-term market direction.
- A breakout above $206 could trigger a bullish reversal, targeting $250–$300 in the coming sessions.
Solana’s market movement has entered a decisive phase, with traders closely watching whether the cryptocurrency can hold above the $150–$160 range or slide toward lower supports. The asset’s performance on Binance from April to November 2025 reveals a complete structural transition from a steady uptrend to an active bearish pattern.
According to analyst Crypto Patel, Solana broke its bullish structure and is now trading inside a descending channel after rejecting the Fair Value Gap (FVG) zone between $165 and $175. “Will SOLANA Hold $160 or Crash to $104?”
Patel asked on X, noting that bearish momentum remains strong below the FVG area. He identified two key supports — Support 1 at $131 and Support 2 at $104, while a break and close above $206 could invalidate the bearish trend and trigger a reversal toward $250–$300.
Downtrend Structure and Key Levels
The chart shared by Patel shows a clear breakdown from an earlier ascending trendline in early October. After that, Solana formed a descending channel marked by lower highs and lower lows. Consequently, the rejection at the red resistance line confirmed growing selling pressure. Additionally, the FVG zone between $165 and $180 remains an unfilled imbalance region that may attract short-term retracement. At present, Solana trades near $160, testing this critical area.
On the other hand, CryptoPulse believes Solana is showing renewed strength around the $150 level, calling it a reliable support zone. He stated, “$SOL holding strong around the $150 level, showing solid signs of recovery after that recent market shakeout.”
He further added that their first upside target remains $200, aligning with a key technical resistance. Moreover, a confirmed breakout above that level could open paths toward $300+, signaling a possible trend reversal if momentum builds steadily.
Solana’s chart now displays well-defined zones: strong support near $131, a potential floor at $104, and resistance at $165–$180. Above all, the invalidation level at $206 remains the ultimate pivot for a bullish comeback. Hence, the coming days may determine whether Solana stabilizes or continues its descent.
