- Solana struggles below key EMAs as bearish momentum deepens across all timeframes
- Rising open interest signals mounting leverage and potential volatility breakout ahead
- Continuous outflows highlight fading investor confidence and shifting market sentiment
Solana (SOL) continues to face heavy downside pressure as it fails to maintain key support levels. The recent price slide from October’s highs near $238 to the $160 range signals sustained weakness across both spot and derivatives markets.
Analysts note that the short-term trend remains bearish as the token struggles below its crucial exponential moving averages (EMAs), pointing toward further potential declines unless buyers reclaim higher resistance zones.
Bearish Trend and Key Resistance Levels
The 4-hour chart shows Solana trading well below its 20, 50, 100, and 200-period EMAs, all stacked downward confirming ongoing selling activity. The immediate resistance stands near $175, where the 20-EMA forms a technical ceiling.
Breakout above that could drive the price toward $183 and $188, levels aligning with the next EMA cluster. However, failure to regain those thresholds could expose the asset to deeper declines as momentum indicators continue to weaken.
Besides, the token’s Fibonacci retracement analysis indicates strong supply at higher levels. The retracement drawn from $237.87 to $169.70 shows rejection near the 0.618 mark at $211.83 and resistance at $195.74. These repeated failures highlight the absence of strong buying interest, confirming a market dominated by short-term sellers.
Open Interest and Derivatives Activity Rising
Interestingly, while price action remains soft, Solana’s futures open interest has climbed to $9.17 billion as of November 4, 2025. This level marks more than double the volume recorded earlier this year.
The steady increase suggests heightened speculative activity and renewed institutional participation. Historically, such rising open interest coupled with stagnant prices often precedes major volatility shifts. Hence, analysts believe a decisive breakout or breakdown could be imminent as leveraged positions continue to build.
Inflows Show Weak Demand Amid Market Rotation
On-chain inflow and outflow data reveal that sellers maintain dominance into early November. Net outflows of $44.71 million were recorded on November 4 when prices hovered around $160.21.
The trend contrasts with strong inflows exceeding $200 million seen in mid-September, which had fueled the prior rally toward $200. Consequently, the consistent outflows suggest investors are rotating capital or taking profits amid uncertain market sentiment.
Technical Outlook for Solana (SOL) Price
Key levels remain well-defined as Solana enters a critical phase in November trading. Upside targets sit near $175, $183, and $188, which align with key EMA clusters. A sustained breakout above these zones could pave the way for recovery toward $195 and $211, the 0.382 and 0.618 Fibonacci retracement levels.
On the downside, immediate supports lie at $160 and $155, while deeper losses could drag the price toward $150 and $138 areas that previously acted as accumulation zones. The $195 level, corresponding to the 200-EMA, remains the key resistance to flip for medium-term bullish momentum.
The chart structure shows Solana moving within a descending channel, where lower highs and lower lows suggest continued pressure. A decisive breakout above the $175–$183 range could trigger a short-term reversal, while rejection at these levels would reinforce bearish dominance.
Will Solana Rebound or Extend Losses?
Solana’s price outlook for November depends on whether buyers can defend the $155–$160 zone and reclaim the $175 barrier. Rising open interest and recent outflows hint at volatility ahead, with leveraged traders preparing for sharp moves.
If renewed inflows return and the price stabilizes above $175, SOL could attempt a rebound toward $195 or higher. Failure to hold $155, however, risks exposing the token to $138 or even $130.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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