SOL Holds Steady Above $140 Amid Growing Signs of Trend Reversal

Solana’s SOL token is finding its footing above $140 following a volatile trading session that saw prices dip sharply before recovering. As of Saturday, SOL is trading at around $140.46, marking a 1.41% decline over the past 24 hours.

Earlier in the day, SOL fell nearly 4.9%, hitting a session low of $135.96 after retreating from highs near $142.91, according to analysis from CoinDesk Research. However, the cryptocurrency rebounded quickly, consolidating into a narrow trading range between $140 and $142, with strong support evident near $140.40.

While Solana’s price action has been choppy, the project’s fundamentals remain robust. Network growth continues, highlighted by the integration of wrapped Bitcoin (WBTC) on the Solana blockchain—a development fueling optimism for further adoption.

Market sentiment around SOL remains divided. Some analysts see potential for a rally toward the $200 level, while others warn that ongoing selling pressure could push the token back into the $123–$135 range.

Technical Analysis Highlights

• SOL posted a $7.08 trading range in the past 24 hours, dropping from $142.91 to a low of $135.96 before recovering.
• The token has been consolidating between $140 and $142, with solid support emerging around $140.40.
• A brief spike between 14:32 and 14:37 propelled SOL from $140.48 to $141.40, although follow-through buying quickly faded.
• Sellers resurfaced during the 15:10 candle, pushing prices down to $140.29 amid elevated volume.
• A descending channel is forming, marked by lower highs and lows, reflecting cautious sentiment in the market.
• Resistance at $142.65 remains a key barrier, halting several recent breakout attempts.

Market watchers are now focused on whether SOL can maintain its support above $140 or break through the $142.65 ceiling—a move that could reignite bullish momentum.