Marina Lyubimova
⬤ Solana's stuck below its descending trendline, and that resistance is keeping SOL boxed in. Price is hovering in the low-to-mid $120s after a recent bounce, but it hasn't been able to push back above the line that's been capping rallies. The current structure shows SOL stabilizing but not breaking out, with the market clearly taking a pause.
⬤ The chart frames this as a B-wave pullback in a larger corrective pattern, and there's one number that matters right now: $118.85. That's the line in the sand. As long as price stays above it, the corrective scenario stays intact. Drop below, and things get messier. This level lines up with a key Fibonacci zone, making it more than just a random number—it's where support needs to hold for the current structure to keep working.
⬤ Right now, Solana's trading in a clear range between $118.85 support and resistance up in the low-to-mid $130s where the trendline and Fibonacci levels sit. Neither bulls nor bears have taken control, and that's showing up as sideways price action that respects both boundaries.
⬤ This consolidation phase matters beyond just Solana because SOL tends to move fast when crypto sentiment shifts. Holding above $118.85 keeps short-term stability alive, while a break lower would signal a deeper pullback is coming. Until price either breaks the trendline or loses support, traders are treating this as consolidation inside a correction, not the start of something bigger.
Marina Lyubimova
