Saad Ullah
⬤ Solana just hit the floor of its 700-day trading channel again—the seventh time it's touched this critical support zone. Right now, SOL is sitting in a high-volume area that's been a major decision point throughout its recent history. The price is holding near the bottom edge of this thick support band, which makes this moment pretty important for what happens next.
⬤ Looking at the 3-day chart, SOL is stuck below resistance at $155, and there's an even stronger ceiling around $201 on the weekly timeframe. The coin hasn't broken out of its macro range in either direction yet. Even though this support level has sparked rallies before, the current momentum feels pretty weak—there's no real buying pressure pushing things higher just yet.
⬤ For a real bounce to happen, traders are watching for either a 3-day or weekly swing failure pattern, plus Bitcoin needs to stay above its recent bottoms. But here's the thing: there hasn't been a proper fake-out below the range yet. Without that kind of false breakdown, SOL might just keep drifting sideways instead of launching into recovery mode.
⬤ This support test matters beyond just Solana—how it plays out could shift sentiment across the entire altcoin market. If the macro range holds up, it would keep the current structure intact. But if uncertainty drags on, SOL could stay trapped in this consolidation pattern. With the price sitting at such a key spot, the next few trading sessions will likely determine where things go from here.
Saad Ullah
