Solana’s price action signals a deepening downtrend as it approaches a critical support zone between $131 and $126, challenging bulls to defend key levels.
Technical analysis highlights the importance of the “Golden Pocket” Fibonacci zone, with failure to hold this area potentially triggering further declines toward $117.
According to MakroVision Research, the absence of bullish reversal patterns and persistent lower highs underscore the current bearish momentum on SOL.
Solana faces a pivotal support zone at $131–$126 amid a sustained downtrend, with key Fibonacci levels and technical resistance shaping its near-term outlook.
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Solana’s Critical Support Zone: The $131–$126 “Golden Pocket” Under Scrutiny
Solana (SOL) is currently navigating a crucial juncture as it tests the $131–$126 support cluster, often referred to as the “Golden Pocket” due to its alignment with the 0.618 to 0.665 Fibonacci retracement levels. This zone is widely regarded by technical analysts as a significant battleground where bullish momentum could either re-emerge or falter decisively. The recent failure to sustain above the $142 Fibonacci level has intensified selling pressure, reinforcing the downtrend characterized by a series of lower highs. This pattern suggests that buyers have struggled to gain traction, and the market remains vulnerable to further downside.
Bearish Momentum and Technical Indicators Confirm Downtrend
MakroVision Research’s latest technical breakdown emphasizes that Solana’s price action lacks any impulsive recovery signals on lower timeframes, which typically precede trend reversals. The sharp sell-off from the $188 resistance level demonstrated strong supply and weak bullish conviction, confirming the dominance of sellers. The persistence of lower highs and the absence of bullish divergence on key momentum indicators such as RSI and MACD further validate the bearish outlook. Traders and investors should note that without a confirmed breakout above $153, the probability of a sustained rally remains low.
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Key Support Levels and Potential Rebound Scenarios for SOL
Beyond the immediate $131–$126 support zone, Solana’s next critical level lies at $117, which coincides with a descending trendline and represents the last major structural support. A breakdown below $126 could accelerate selling pressure, pushing SOL toward this lower boundary and increasing the risk of a prolonged bearish phase. Conversely, a strong rebound from the “Golden Pocket” could catalyze a short-term rally, potentially driving prices back above $153 and targeting resistance at $170 and $188. Such a recovery would require increased buying volume and positive momentum shifts, which remain absent at present.
Market Implications and Investor Outlook
For market participants, the $131–$126 zone is a pivotal decision point. Holding this range could restore confidence among bulls and attract fresh buying interest, while a failure to defend it may trigger stop-loss orders and exacerbate downside volatility. Analysts recommend closely monitoring volume trends and price action within this zone to gauge the strength of either side. Given the current technical setup, a cautious approach is warranted, with risk management strategies prioritized amid heightened uncertainty.
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Solana’s trajectory over the coming sessions hinges on its ability to maintain support within the $131–$126 “Golden Pocket.” The prevailing downtrend, marked by lower highs and weak bullish momentum, suggests that a decisive break below this cluster could lead to further declines toward $117. Conversely, a robust rebound may signal a potential shift in market sentiment, opening the door for a short-term rally. Investors and traders should remain vigilant, leveraging technical indicators and volume analysis to navigate this critical phase effectively.
Source: https://en.coinotag.com/solana-approaches-key-support-zone-at-131-126-amid-ongoing-downtrend-analysts-suggest-possible-outcomes/