Solana trades under pressure but key support and momentum levels still leave room for a rebound.
Notably, the broader crypto market remains under pressure after a sharp risk-off turn in November, with leading altcoins giving back a sizable portion of their prior gains. Intraday action is still choppy, but the bias across most large caps has tilted lower as traders react to fading upside momentum.
Solana’s latest performance underlines this mood. SOL is trading at $129.14, down about 0.6% on the day, with a 24-hour range between roughly $128.65 and $133.96. SOL now has a market capitalization of about $72 billion on more than $4.6 billion in daily volume.
Even so, the price has fallen around 9.2% over the past week and more than 33% in the last month. This environment is setting the stage for a closer look at its price structure, indicators, and key support zones.
Solana Price Analysis
On the 4-hour Solana chart from TradingView, the Fibonacci Retracement tool maps the latest downswing from about $144.65 to $121.65. Specifically, price has rebounded off that swing low but is now slipping again after failing to hold above the 0.382 and 0.5 retracement levels near $130.44 and $133.15.
Read more: thecryptobasic.com
Source: CRYPTO WORLD NETWORK NEWS
