Solana's SOL Holds $140 Support as Reversal Pattern Gains Strength

Solana's native token, SOL SOL, is trading at $140.46, down 1.41% over the past 24 hours, after recovering from a sharp 4.9% decline that took the price from $142.91 to $135.96, according to CoinDesk Research's technical analysis model. The asset has since stabilized between $140 and $142, with support forming at $140.40.

Solana’s ecosystem continues to grow, with recent announcements including support for wrapped Bitcoin (WBTC) on the network. Analysts remain divided on the outlook, with some pointing to a potential move toward $200, while others expect a retracement to the $123–$135 range.

Technical Analysis Highlights

• SOL declined 4.9% from $142.91 to $135.96, establishing a 7.08-point trading range.
• The asset recovered to form a consolidation pattern between $140 and $142.
• High-volume support appeared at $140.40 during the 13:00 hourBetween 14:32 and 14:37, SOL surged from $140.48 to $141.40.
• Selling pressure pushed the price down to $140.32, then to a session low of $140.29.
• A descending channel formed with lower highs and lower lowsResistance at $142.65 capped price action twice.
• Concentrated selling volume occurred during the 15:10 candle, suggesting near-term bearish sentiment

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.