SOL Price Faces Pressure as Market Structure Weakens

• Solana’s structure stays bearish as lower highs persist and support near $135 weakens.
• Open interest drop from October highs shows fading momentum despite solid activity.
• Spot flows stay cautious as repeated outflows cap sentiment despite brief inflow spikes.

Solana continues to trade under pressure as sellers maintain control on the mid-term charts. Recent price action shows the coin drifting toward a key support area, where buyers are attempting to prevent a deeper decline. 

The broader setup shows a market that remains cautious, as both spot flows and futures positioning indicate cooling momentum. Consequently, traders are assessing whether Solana can stabilize above current support or extend its correction toward lower demand levels. 

Critical Levels Shape Short-Term Direction

Solana trades below the EMA-9 and the Supertrend on the 4-hour chart, which signals ongoing bearish momentum. The coin recently tested the $142 area, although the move did not shift the market structure. Price action remains weak because lower highs continue to form. 

Additionally, the chart shows key support holding near $135, which now acts as the main barrier against a sharper decline. A break under this zone may expose the $126 to $130 region, where earlier demand emerged. This pocket aligns with expectations of a wider correction if selling pressure continues.

On the upside, resistance remains firm at $147.92, where repeated rejections occurred. A sustained move above $148 could ease short-term pressure. Moreover, a close above $159 would suggest stronger recovery signs. The next technical hurdle stands near $174, which would confirm a shift toward a more constructive structure if reclaimed.

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Futures Positioning Shows Continued Unwinding

Futures traders reduced their exposure as open interest fell sharply from late October highs. Open interest peaked above $12 billion before dropping to about $7.1 billion by mid-November. 

This trend signals reduced speculative positioning as volatility cooled. However, open interest still sits above earlier-year levels, which shows ongoing activity despite declining leverage. The shift reflects traders stepping back from aggressive bets as momentum slowed.

Spot Flows Highlight Caution Among Market Participants

Spot market flows remain mixed, although outflows dominate the broader trend. Frequent red sessions show steady distribution through the year. Inflow clusters in March, July, and September failed to trigger sustained accumulation. 

The latest session recorded an $11.44 million inflow, offering a brief improvement. However, the broader pattern shows participants acting cautiously as Solana trades near mid-month lows.

Technical Outlook for Solana Price

Key levels remain well-defined as Solana moves deeper into November trading. 

Upside levels at $147.92, $150.00, and $159.32 stand as immediate hurdles. A decisive breakout above these zones could open the path toward the $174.28 Fibonacci region and potentially higher extensions if momentum strengthens.

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Downside levels remain equally important. The $135.13 support acts as the current trendline floor. A breakdown beneath this point exposes the broader $130–$126 demand zone, which aligns with previous accumulation activity. This region becomes critical if market sentiment weakens further.

The main resistance ceiling sits at $147.92, which aligns with the Supertrend barrier. This level must flip for Solana to regain medium-term bullish momentum. The technical picture suggests SOL is compressing inside a broader downward structure, where a decisive reclaim above $148 may trigger volatility expansion in either direction.

Will Solana Recover?

Solana’s November outlook hinges on whether buyers can defend the $135 support long enough to mount a challenge on the $147.92–$150 cluster. Technical compression, combined with cooling open interest and renewed spot inflows, points toward heightened volatility ahead. If bullish momentum strengthens with improving flows, SOL could retest $159 and even the $174 Fibonacci region.

Failure to hold $135, however, risks breaking the current accumulation base and exposing price to the $130–$126 pocket. For now, Solana remains in a pivotal zone. Market conviction and confirmation from reclaimed resistance levels will determine the next major directional move.

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