Solana (SOL) Price: Recovery Rally Stalls as Death Cross Forms – What’s Next?

TLDR

• Solana is trading near $130 after a volatile week with heavy sell-offs and stabilization at key support levels around $121-$123
• A death cross is forming between the 50-day and 200-day moving averages for the first time since early 2023, which typically signals bearish conditions
• The price remains inside a descending channel that has controlled movement since mid-September, with resistance at $135-$140
• Bulls have defended the $121-$123 support zone with signs of buying pressure, but momentum remains weak with RSI at 33
• A break above $144-$146 would signal potential trend reversal, while failure to hold $121 could push SOL toward $107 and $95

Solana is trading near $130 as of November 24, 2025. The cryptocurrency has stabilized after experiencing a volatile week marked by heavy selling pressure.

The price currently sits just above the critical $121-$123 support zone. This range has been tested multiple times over the past week. Buyers have stepped in at these levels, preventing further decline so far.

A death cross is forming on Solana’s chart. This technical pattern occurs when the 50-day moving average crosses below the 200-day moving average. The last time this happened was in early 2023.

The cryptocurrency has been trading inside a descending channel since mid-September. Each attempt to break higher has been rejected at the channel’s midpoint. Lower highs have continued throughout this period.

Technical Indicators Show Mixed Signals

The Relative Strength Index (RSI) currently reads 33. This suggests the asset is near oversold territory. The RSI has bounced from lower levels, creating a mild bullish divergence.

Recent price candles show long lower wicks. These indicate aggressive buying at the $121 level. However, overall momentum remains weak.

The 100-hourly simple moving average sits near current price levels. Solana is trading above this short-term indicator. A bullish trend line has formed with support at $130.

Immediate resistance stands at $135. This level corresponds to the 61.8% Fibonacci retracement of the recent decline from $145 to $121. Further resistance exists at $140 and $145.

Support and Resistance Levels

The $121-$123 zone represents the last major support before deeper levels. If this area breaks, the next support targets are $107 and $95.

On the upside, a move above $144-$146 would be the first sign of renewed strength. A break above $172, which marks the upper boundary of the descending channel, would indicate a meaningful trend change.

Recovery attempts have moved the price above $125 and $128. The cryptocurrency climbed toward the 50% Fibonacci retracement level during this bounce.

The $130 level now serves as immediate support. Below that, $127 marks the first major support level. A break under $127 could send the price to $124.

If $124 fails to hold, Solana could decline toward $120. The pattern of lower highs since September continues to reinforce the bearish structure.

Bulls need to push above $135 to validate early strength. A successful close above $145 could open the path toward $155 and $162.

The death cross formation adds pressure to the technical outlook. Historically, this pattern has preceded longer consolidation phases. However, the support zone has held firm despite multiple tests.

Price action over the coming days will determine whether buyers can maintain control at current levels. The cryptocurrency remains above its 100-hourly moving average as of the latest trading session.

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