Solana’s price is now sitting inside a crucial support zone, and what happens in this region will decide whether the next major bullish wave can truly begin. The broader correction has brought SOL to a defining moment, where micro-level price behavior will determine if buyers can regain control or if deeper levels must be tested first. Market Correction Nears First Major Support Zone According to a recent update by More Crypto Online, SOL still maintains the chance to begin a larger upward move in this current cycle. The analyst notes that the market has been in a correction since mid-September and has now reached its first major structural support zone, putting the asset at a crucial juncture. Related Reading: Solana (SOL) Aims Recovery Run, $155 Resistance Now Back in Focus The first key support zone is defined as sitting between $138 and $118, which is currently being tested by the market. However, More Crypto Online cautions that there is currently not enough evidence that support is being confirmed here. While there is a small green candle on the weekly chart, this is merely something to watch and is “not yet a signal.” More Crypto Online outlines the bearish contingency: if Solana breaks sustainably below the $117–$118 area, the focus will shift to a deeper correction scenario, targeting the next major macro support zone between $90 and $62. In the weekly chart, these are the two zones that matter most on the macro level. However, More Crypto Online emphasizes that traders cannot automatically assume one or the other will hold. Meanwhile, the key is always to observe how the microstructure behaves inside these zones. Why Micro-Timeframe Structure Is the Decisive Factor The analyst further clarified that a weekly support zone only becomes meaningful when lower time frames begin to form clear 5-wave impulse structures from the lows. These impulses act as early confirmation that buyers are stepping in with strength rather than producing temporary reactions. Related Reading: Solana (SOL) Grinds Upward as Broader Market Stabilizes — Is a Breakout Brewing? Without these smaller-time-frame impulses, any bounce that appears within a weekly support zone remains unconfirmed. It simply signals that price is reacting to the area, not that a true bottom has formed or that a bullish reversal is underway. To distinguish between a weak bounce and a confirmed hold, the analyst emphasized tracking micro price action on the 15-minute, 1-hour, and 4-hour charts. These lower time frames reveal whether buyers are defending levels with conviction. Until Solana prints a clean and structured 5-wave move from a low, neither support zone can be considered validated. In the meantime, both the higher and lower support scenarios remain fully in play. Featured image from iStock, chart from Tradingview.comSolana’s price is now sitting inside a crucial support zone, and what happens in this region will decide whether the next major bullish wave can truly begin. The broader correction has brought SOL to a defining moment, where micro-level price behavior will determine if buyers can regain control or if deeper levels must be tested first. Market Correction Nears First Major Support Zone According to a recent update by More Crypto Online, SOL still maintains the chance to begin a larger upward move in this current cycle. The analyst notes that the market has been in a correction since mid-September and has now reached its first major structural support zone, putting the asset at a crucial juncture. Related Reading: Solana (SOL) Aims Recovery Run, $155 Resistance Now Back in Focus The first key support zone is defined as sitting between $138 and $118, which is currently being tested by the market. However, More Crypto Online cautions that there is currently not enough evidence that support is being confirmed here. While there is a small green candle on the weekly chart, this is merely something to watch and is “not yet a signal.” More Crypto Online outlines the bearish contingency: if Solana breaks sustainably below the $117–$118 area, the focus will shift to a deeper correction scenario, targeting the next major macro support zone between $90 and $62. In the weekly chart, these are the two zones that matter most on the macro level. However, More Crypto Online emphasizes that traders cannot automatically assume one or the other will hold. Meanwhile, the key is always to observe how the microstructure behaves inside these zones. Why Micro-Timeframe Structure Is the Decisive Factor The analyst further clarified that a weekly support zone only becomes meaningful when lower time frames begin to form clear 5-wave impulse structures from the lows. These impulses act as early confirmation that buyers are stepping in with strength rather than producing temporary reactions. Related Reading: Solana (SOL) Grinds Upward as Broader Market Stabilizes — Is a Breakout Brewing? Without these smaller-time-frame impulses, any bounce that appears within a weekly support zone remains unconfirmed. It simply signals that price is reacting to the area, not that a true bottom has formed or that a bullish reversal is underway. To distinguish between a weak bounce and a confirmed hold, the analyst emphasized tracking micro price action on the 15-minute, 1-hour, and 4-hour charts. These lower time frames reveal whether buyers are defending levels with conviction. Until Solana prints a clean and structured 5-wave move from a low, neither support zone can be considered validated. In the meantime, both the higher and lower support scenarios remain fully in play. Featured image from iStock, chart from Tradingview.com

Solana’s Next Major Wave Depends On How The Price Behaves Inside This Support

2025/11/22 09:00

Solana’s price is now sitting inside a crucial support zone, and what happens in this region will decide whether the next major bullish wave can truly begin. The broader correction has brought SOL to a defining moment, where micro-level price behavior will determine if buyers can regain control or if deeper levels must be tested first.

Market Correction Nears First Major Support Zone

According to a recent update by More Crypto Online, SOL still maintains the chance to begin a larger upward move in this current cycle. The analyst notes that the market has been in a correction since mid-September and has now reached its first major structural support zone, putting the asset at a crucial juncture.

The first key support zone is defined as sitting between $138 and $118, which is currently being tested by the market. However, More Crypto Online cautions that there is currently not enough evidence that support is being confirmed here. While there is a small green candle on the weekly chart, this is merely something to watch and is “not yet a signal.”

Solana

More Crypto Online outlines the bearish contingency: if Solana breaks sustainably below the $117–$118 area, the focus will shift to a deeper correction scenario, targeting the next major macro support zone between $90 and $62.

In the weekly chart, these are the two zones that matter most on the macro level. However, More Crypto Online emphasizes that traders cannot automatically assume one or the other will hold. Meanwhile, the key is always to observe how the microstructure behaves inside these zones.

Why Micro-Timeframe Structure Is the Decisive Factor

The analyst further clarified that a weekly support zone only becomes meaningful when lower time frames begin to form clear 5-wave impulse structures from the lows. These impulses act as early confirmation that buyers are stepping in with strength rather than producing temporary reactions.

Without these smaller-time-frame impulses, any bounce that appears within a weekly support zone remains unconfirmed. It simply signals that price is reacting to the area, not that a true bottom has formed or that a bullish reversal is underway.

To distinguish between a weak bounce and a confirmed hold, the analyst emphasized tracking micro price action on the 15-minute, 1-hour, and 4-hour charts. These lower time frames reveal whether buyers are defending levels with conviction.

Until Solana prints a clean and structured 5-wave move from a low, neither support zone can be considered validated. In the meantime, both the higher and lower support scenarios remain fully in play.

Solana
Market Opportunity
Major Logo
Major Price(MAJOR)
$0.12138
$0.12138$0.12138
-4.10%
USD
Major (MAJOR) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip

Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip

The post Gold Hits $3,700 as Sprott’s Wong Says Dollar’s Store-of-Value Crown May Slip appeared on BitcoinEthereumNews.com. Gold is strutting its way into record territory, smashing through $3,700 an ounce Wednesday morning, as Sprott Asset Management strategist Paul Wong says the yellow metal may finally snatch the dollar’s most coveted role: store of value. Wong Warns: Fiscal Dominance Puts U.S. Dollar on Notice, Gold on Top Gold prices eased slightly to $3,678.9 […] Source: https://news.bitcoin.com/gold-hits-3700-as-sprotts-wong-says-dollars-store-of-value-crown-may-slip/
Share
BitcoinEthereumNews2025/09/18 00:33
Why Institutional Capital Chooses Gold Over Bitcoin Amid Yen Currency Crisis

Why Institutional Capital Chooses Gold Over Bitcoin Amid Yen Currency Crisis

TLDR: Yen’s managed devaluation artificially strengthens the dollar, creating headwinds for Bitcoin price action. Gold has surged 61.4% while Bitcoin stagnates
Share
Blockonomi2026/01/18 12:09
Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC

Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC

The post Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC appeared on BitcoinEthereumNews.com. Franklin Templeton CEO Jenny Johnson has weighed in on whether the Federal Reserve should make a 25 basis points (bps) Fed rate cut or 50 bps cut. This comes ahead of the Fed decision today at today’s FOMC meeting, with the market pricing in a 25 bps cut. Bitcoin and the broader crypto market are currently trading flat ahead of the rate cut decision. Franklin Templeton CEO Weighs In On Potential FOMC Decision In a CNBC interview, Jenny Johnson said that she expects the Fed to make a 25 bps cut today instead of a 50 bps cut. She acknowledged the jobs data, which suggested that the labor market is weakening. However, she noted that this data is backward-looking, indicating that it doesn’t show the current state of the economy. She alluded to the wage growth, which she remarked is an indication of a robust labor market. She added that retail sales are up and that consumers are still spending, despite inflation being sticky at 3%, which makes a case for why the FOMC should opt against a 50-basis-point Fed rate cut. In line with this, the Franklin Templeton CEO said that she would go with a 25 bps rate cut if she were Jerome Powell. She remarked that the Fed still has the October and December FOMC meetings to make further cuts if the incoming data warrants it. Johnson also asserted that the data show a robust economy. However, she noted that there can’t be an argument for no Fed rate cut since Powell already signaled at Jackson Hole that they were likely to lower interest rates at this meeting due to concerns over a weakening labor market. Notably, her comment comes as experts argue for both sides on why the Fed should make a 25 bps cut or…
Share
BitcoinEthereumNews2025/09/18 00:36