As the market rebounds, Solana (SOL) is retesting a crucial area that has served as resistance since the November pullbacks. Some market watchers suggest that a short-term rally is likely, while others have highlighted potential signs of weakness.
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Solana Eyes $144 Resistance
Solana is attempting to turn the $140 area into support while nearing a key local resistance for the third time in a month. The cryptocurrency has been trading between the $120-$144 levels since mid-November, struggling to hold the high zone of its local range amid the recent market volatility.
Last week, it bounced 10% toward the $140-$144 area but plunged to the range lows after Sunday’s correction, hitting a one-week low of $123 on Monday. As a result, it tested an ascending trendline that has served as support since 2023.
Ali Martinez explained that during the pullbacks, SOL has retested this key support trendline. Notably, each time the cryptocurrency has tapped this trendline, it has registered strong rebounds in the following months, suggesting that the price could rally more than 80% in the mid-term if this support holds.
Following Tuesday’s market rebound, SOL climbed back to the range’s highs, attempting to break above the local range once more. Market observer More Crypto Online affirmed that Wednesday’s rejection from $144 was expected, as it has been a strong resistance for weeks.
The trader considers that investors should not worry as long as the mid-zone of its range, between the $134-$139 levels, holds as support. “It’s not really a breakdown yet; we just have a first sharp pullback,” he affirmed, emphasizing that there’s no evidence that bears are taking the lead.
He noted that breaking below the mid-zone of its range would open the door to a retest of the recent lows and potentially risk a drop to the $117 area or lower. Nonetheless, if bulls take the lead and reclaim the $144 level as support, it will open the door to a retest of higher levels, including the $163 level, where the major next sell wall for SOL is situated.
Is SOL’s Crucial Support Weakening?
Meanwhile, Rekt Capital shared an analysis on longer timeframes, pointing out that Solana has been moving within a clear macro range, situated between the $123 and $296 levels, in the monthly timeframe, clustering in this area since early 2024.
Per the analyst, the cluster has been developing for an extended period, and the potential for distribution and its function as a re-accumulation structure decreases the longer it continues.
Despite this, he emphasized that the focus is on the 21-month horizontal support level. As the analysis noted, Solana recorded a 140% rally during the first major rebound from the region in Q3 and Q4, 2024.
In the second rebound from this support, which started in Q3 2025, SOL saw a significantly smaller rally, surging around 100% to its September local high. Now, the cryptocurrency is rebounding from this level, which could confirm a decreasing trend for the altcoin and raise the alarm about its strength.
“While it is positive to see this rebound, if the move turns into a weaker rebound than the previous ones, then questions will arise regarding the strength of this support,” Rekt Capital asserted.
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To prevent this, Solana must breach the one-year downtrend or the multi-week downtrend on the weekly timeframe. “Failing to break either of these trendlines would produce a smaller rally because the prior rebound — the one that rallied around 100% — would fall short and reject from these downtrends instead.”
The analyst concluded that a sequence of progressively smaller bounces “would imply increasing weakness into that support, which in turn would favour the potential for distribution in Solana over time.”
Featured Image from Unsplash.com, Chart from TradingView.com
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