Alex Dudov
⬤ Solana (SOL) is trying to find its footing after weeks of selling pressure, with the token now trading in a tight range around $127 on the 4-hour chart. SOL has successfully held the lower boundary of its current range and is starting to show some bounce-back energy, suggesting buyers are cautiously returning to the market. The chart shows how the previous downward momentum has shifted into a more sideways, wait-and-see pattern.
⬤ This consolidation zone around $127 reveals tighter price swings, pointing to a temporary standoff between buyers and sellers. Recent candles are attempting to climb back from support levels near the range's lower edge. This activity hints at improving short-term sentiment for SOL, though price action still hovers near resistance and hasn't broken free from the broader sideways structure yet.
⬤ Important price levels on the chart include support sitting around $118 to $124 and resistance clustered just above $130. Trading within this range shows the market remains cautious but noticeably more stable than during the earlier selloff. Right now, Solana appears to be in a stabilization phase rather than moving with any clear directional conviction.
⬤ Why does this matter? Consolidation following a lengthy downtrend often signals cooling volatility and a shift in how traders are positioning themselves. If buyers keep defending price near $127, we could see sentiment around SOL continue to improve. That said, any drop below this defended zone would suggest downside risks are still lingering. Traders will be watching closely to see whether Solana can transition from this holding pattern into a stronger recovery—or if it just stays stuck in range.
Alex Dudov
