Solana’s price is showing mild volatility with slight bearish pressure dominating the week. The token began near $223.5 and faced consistent fluctuations, dipping below $218 before recovering to around $221.5.
As of today, Solana is trading around $221.5, showing signs of stabilization after recent declines.
The token has attempted a minor rebound from lower support near $218, suggesting that buyers are gradually re-entering the market.
Overall, the crypto market has been in a range-bound, reflecting a tug-of-war between buyers and sellers.
With market capitalization hovering around $4.15 trillion and trading volume of $191.03 billion.
As of the time of writing, Solana is trading at $221.24, down by about 4% for the past 24 hours.
Source: CoinMarketCap
According to Ali Martinez, Solana ($SOL) is approaching a decisive moment as it tests the $217 support level, which could determine whether the asset rebounds or breaks lower.
The chart illustrates a clear pattern of selling pressure following multiple failed attempts to sustain above the $226–$228 resistance zone, leading to a sharp pullback toward this crucial price point.
If $SOL successfully holds above $217, it could signal the beginning of a bullish reversal, potentially forming a double-bottom (W) pattern.
Such a formation would suggest renewed buying momentum, with potential recovery targets around $224 and $228, where previous resistance levels lie.
This would also reinforce confidence among traders looking for a short-term rebound.
Solana holds steady ahead of potential breakout
In the 1-day Solana price chart, the trend is showing consolidation after a recent rally, with price movement staying within a tight range.
The immediate resistance level is around $242, marked by the upper Bollinger Band, while the nearest support lies near $196, close to the lower Bollinger Band.
Solana is currently trading around the mid-band zone near $219, indicating a balanced tug between bullish and bearish forces as the market awaits a decisive move.
SOL 1-day price chart, Source: TradingView
The Bollinger Bands are slightly narrowing, signaling reduced volatility and a potential buildup for a breakout.
The MACD lines (blue and orange) are converging near the zero line, showing weakening bearish momentum and hinting at a possible bullish crossover if upward pressure continues