Solana’s native token, SOL
, is trading at $140.46, down 1.41% over the past 24 hours, after recovering from a sharp 4.9% decline that took the price from $142.91 to $135.96, according to CoinDesk Research’s technical analysis model. The asset has since stabilized between $140 and $142, with support forming at $140.40.
Solana’s ecosystem continues to grow, with recent announcements including support for wrapped Bitcoin (WBTC) on the network. Analysts remain divided on the outlook, with some pointing to a potential move toward $200, while others expect a retracement to the $123–$135 range.
Technical Analysis Highlights
- SOL declined 4.9% from $142.91 to $135.96, establishing a 7.08-point trading range.
- The asset recovered to form a consolidation pattern between $140 and $142.
- High-volume support appeared at $140.40 during the 13:00 hourBetween 14:32 and 14:37, SOL surged from $140.48 to $141.40.
- Selling pressure pushed the price down to $140.32, then to a session low of $140.29.
- A descending channel formed with lower highs and lower lowsResistance at $142.65 capped price action twice.
- Concentrated selling volume occurred during the 15:10 candle, suggesting near-term bearish sentiment
