Artem Voloskovets
⬤ Solana has shifted into consolidation mode after a steep selloff, with the price now holding firm above a well-defined support zone around $139 on the 4-hour chart. This compression phase typically emerges when sellers run out of steam and the market catches its breath before choosing its next direction. After a strong downward move, SOL has stopped making aggressive lower lows, pointing to short-term stabilization.
⬤ The chart reveals that Solana rode a clear downtrend before hitting this base area, where price action compressed into a tight range. This shift reflects cooling volatility and a temporary standoff between buyers and sellers. Instead of pushing lower, the market is now treading water, which suggests immediate selling pressure has backed off, though the bigger picture hasn't turned bullish yet.
⬤ Overhead resistance remains in play, and price hasn't reclaimed that level yet. A decisive break above this resistance would signal renewed strength and could trigger an upside reaction. But if the current support base gives way, downside risk stays on the table and could spark another leg down following the previous trend.
⬤ This consolidation matters because Solana frequently serves as a temperature check for the wider altcoin market. When compression follows a sharp drop, volatility expansion usually isn't far behind, making this zone technically noteworthy. How SOL breaks out of this structure could set the tone for near-term market direction as traders watch whether this pause turns into recovery or fresh weakness.
Artem Voloskovets
