Solana Price Approaches Key Resistance Amid Supply Concerns

The Solana price is approaching a pivotal point, with analysts closely watching the $144–$146 resistance zone as the next major hurdle for a breakout. Current price action shows signs of on-chain capitulation, coupled with notable accumulation behavior—painting a potentially bullish picture if certain levels hold.

Technical Outlook: Wyckoff Accumulation in Motion?

Market expert Gordon Gekko points to the formation of an early-stage Wyckoff accumulation pattern, suggesting that Solana (SOL) is preparing for a larger markup phase. According to Gekko, key support around $115 continues to attract buyers, while long-term resistance remains near $250.

Fellow analyst FOUR emphasizes the critical nature of the $144–$146 supply zone, where market momentum has cooled. This consolidation phase adds suspense, as traders await confirmation of a breakout or rejection at these levels.

Fibonacci Levels and On-Chain Fear Indicators Add Clarity

Chiefrat, another seasoned analyst, highlights the importance of Fibonacci retracement levels, especially at $146.85 and $152.77, for SOL to regain bullish traction. These levels act as key technical validation zones, where price recovery could accelerate.

Meanwhile, Ali, known for his on-chain data insights, points to the Net Unrealized Profit/Loss (NUPL) metric, which currently indicates strong capitulation—a classic signal that market fear may be overextended. Historically, such conditions have often preceded significant upward moves.

Market Sentiment and What Comes Next

With deep fear dominating sentiment and accumulation signals flashing green, the current setup for Solana is tightly coiled. If bulls can reclaim the $146–$152 range and establish it as support, the stage could be set for a new leg up in Solana’s long-term rally.

However, failure to break above key resistance could see SOL revisiting lower support levels, testing investor conviction once again.

Source: Solana Price Faces Make-or-Break Zone.