Solana is treading a fine line as price presses against a key technical barrier with momentum fading. Repeated rejections indicate buyers are struggling to push a breakout, while downside follow-through remains limited for now. With volume thinning and the chart structure unchanged, the next move at this level could dictate SOL’s price trajectory.
Speaking in a recent Solana update, crypto analyst Umair Crypto highlighted that the asset’s structural situation remains unchanged from previous discussions. The core issue is that the chart lacks the momentum to flip the $127 level into support. Repeated attempts to breach this price point have been rejected, forcing SOL to search for the next established area of support.
The analyst believes a brief sweep below the key $120 level looks increasingly likely before buyers attempt another serious push higher. Umair Crypto emphasized that the most crucial aspect of this potential dip will be the market’s reaction and volume response, particularly around key areas like the volume profile and the Change of Behavior (COB) zone. A weak reaction at these lower levels would signal continuation lower, while a strong acceptance and high volume response could set up the next major rotation back toward the $127 resistance.
Solana is trading at a critical breakout area, placing the market in a clear wait-and-see mode as price tests the descending channel resistance. Despite hovering near the upper trendline, no confirmed breakout has occurred yet, and the structure suggests growing pressure; price alone has not been enough to validate a bullish shift. As long as SOL remains trapped beneath this resistance, the setup stays neutral rather than decisively bullish.
Leave a Reply