SOL’s Fall: $120 or Bust!

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Solana price drops to a 5-month low of $138, testing key support with risks of sliding to $120 if the level breaks.

 

Solana (SOL) stands at the precipice of despair, its price a trembling soul teetering on the edge of oblivion. 📉 The cryptocurrency, once a beacon of hope, now languishes at a 5-month low, its value a shadow of its former self. What madness has gripped the markets? 🤔

After a harrowing decline, the digital relic has reached a fresh 5-month low, casting a pall over the hearts of traders and analysts alike. Will it rise again, or is this the end of an era? 🕊️

As of now, Solana hovers near $138, a fragile flicker of light in a sea of darkness. The key support zone, a narrow corridor between $134 and $140, is the last bastion of hope. Should it crumble, the abyss of $120 looms ever closer. 🕳️

Solana Faces Critical Support Test

Solana’s recent price movement has ignited a firestorm of anxiety among traders. After months of gradual decline from heights near $210, SOL now finds itself in a crucible of uncertainty. 🧪 The price, a wretched specter of its former self, has been forging lower highs and lower lows, a grim testament to the market’s weakening grip. 🕯️

The $135-$138 range, once a sanctuary, now serves as a gauntlet for the brave. Traders, those modern-day prophets, watch with bated breath, their fates intertwined with the whims of the market. 🤝 If the price holds, a fleeting rebound to $165-$175 may yet be possible. But if it falls below $134, the descent to $120 seems inevitable. 🚪

As the price tests these thresholds, Solana’s destiny hinges on the mercy of buyers or the cruelty of sellers. A single misstep could seal its fate. 🧠

Bullish Divergence Signals Possible Rebound

Yet, amid the gloom, a glimmer of hope emerges. Lower timeframes whisper of potential reversal, their voices faint but persistent. On the 4-hour and daily RSI, bullish divergences flicker like dying embers. 🌄 Could this be the dawn of a new era? 🌅

Solana got a daily bullish divergence and one on 4h as well. Double divergences, across multiple timeframes do call for some relief in price as long as they aren’t invalidated.

But if they do get invalidated, as it causes a lot of “expected” traders to get stuck, we get…

– Umair Crypto (@Umairorkz)

If these signals endure, a short-term rebound may yet be possible. The price may dare to climb toward $150, though resistance at $168 looms like a specter. 🧟‍♂️

But traders, ever cautious, remain skeptical. The divergences must be confirmed; otherwise, the illusion of hope will shatter, and the price will plunge once more. 🧨

For now, the appearance of bullish divergence offers a flicker of optimism, though the broader trend remains a cruel joke. A sustained rebound or further decline hinges on the support zone’s resilience. 🧭

Related Reading: Fidelity Advances Solana Spot ETF Plan as SOL Tests Key Price Levels

TD Sequential Signals a Potential Bottom

In addition to the bullish divergences, a TD Sequential “1” buy signal has emerged, a whisper of hope in the desolation. This signal, typically born from a series of consecutive down candles, suggests that selling momentum may finally wane. 🌙

TD Sequential flashes a buy signal for Solana !

– Ali (@ali_charts)

The buy signal, born from prolonged decline, marks Solana’s testing of the $138-$142 range. 🧭 If it holds, a short-term rally could materialize, with targets near $150 to $155. 🎯

Yet, the broader trend remains fragile, and this counter-trend signal demands confirmation. 🧠 A strong reaction from the support zone is vital for SOL to reclaim its footing and avert further despair. 🧱

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2025-11-18 15:13