The bearish momentum has been in the market for a long time, triggering the crypto tokens to nullify their recent gains. With the Fear and Greed Index value foundThe bearish momentum has been in the market for a long time, triggering the crypto tokens to nullify their recent gains. With the Fear and Greed Index value found

Bears Take Control of Solana (SOL): Is $125 the Bulls’ Last Line of Defence?

2026/01/23 15:34
3 min read
  • Solana is now hovering around $128. 
  • SOL’s daily trading volume has dropped by 36%.

The bearish momentum has been in the market for a long time, triggering the crypto tokens to nullify their recent gains. With the Fear and Greed Index value found at 34, the broader sentiment is fear. Notably, the largest assets, like Bitcoin (BTC) and Ethereum (ETH), are facing downward trends. Meanwhile, Solana (SOL) has registered a 1.68% loss in the last 24 hours. 

Solana kicked off the day trading at a high range of $130.49, and the bearish entry has pulled back the price toward the bottom level of $126.85. Currently, SOL trades around $128.02, with its daily trading volume having dropped by 36.04%, reaching $3.26 billion. As per Coinglass data, the market has experienced a liquidation of $6.77 million worth of Solana during this time span.

On the 1-hour chart, the asset is compressing inside a triangle, showing tightening volatility as buyers and sellers reach equilibrium. This consolidation precedes a sharp breakout. An hourly close above $129 displays bullish continuation, while a break below $127 could signal renewed downside momentum.

Assuming the Solana price is facing a deep correction on the downside, it could test the support at the $127 range. With the potential bears in the market, it invites the death cross to emerge, which triggers the price toward its former low below $126. 

On the upside, if the bulls reappear, the Solana price might move up to the resistance of $129. A break beyond this level could initiate the golden cross to take place, supporting further recovery, and sending the price above the $130 mark 

Bearish Momentum Builds Across Solana Indicators

The technical indicators of Solana show that the Moving Average Convergence Divergence (MACD) line and the signal line fall below the zero line, pointing to the strong bearish momentum. The short-term price action is weaker than the longer-term, confirming a downtrend, and it may continue unless the momentum starts to reverse.

SOL chart (Source: TradingView)

In addition, the Chaikin Money Flow (CMF) indicator is located at -0.10, which hints that selling pressure is outweighing buying pressure in the SOL market. The capital is flowing out of the asset, reflecting weaker demand and a bearish bias in the short term. Unless the value moves back above zero, the upside momentum is likely to remain limited.

SOL’s daily Relative Strength Index (RSI) settled at 41.81 indicates weak to neutral momentum. The asset is leaning bearish, but it is not oversold. The selling pressure is present, and there is still room for further downside. Moreover, the Bull Bear Power (BBP) reading of Solana at -1.07 suggests strong bearish dominance. The price is found below the equilibrium level. Until it moves closer to or above zero, the downside momentum will persist.

Top Updated Crypto News

World Liberty Financial and Spacecoin Announce Token Swap For Satellite DeFi Payments

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

A whale that made a 141% profit on PUMP three days ago bought 321 million TRUMPs today, with a floating profit of $223,000.

A whale that made a 141% profit on PUMP three days ago bought 321 million TRUMPs today, with a floating profit of $223,000.

PANews reported on September 18th that according to Lookonchain monitoring, whale H56YMH sold 317 million PUMPs (worth approximately $2.53 million) at an average price of $0.008 three days ago, realizing a net profit of $1.48 million (a 141% return). Subsequently, eight hours ago, it purchased 321 million TRUMPs at an average price of $0.007835, resulting in unrealized profits of $223,000.
Share
PANews2025/09/18 10:36
Health Insurers To Cover Covid Vaccines Despite RFK, Jr. Moves

Health Insurers To Cover Covid Vaccines Despite RFK, Jr. Moves

The post Health Insurers To Cover Covid Vaccines Despite RFK, Jr. Moves appeared on BitcoinEthereumNews.com. The nation’s biggest health insurance companies will continue to cover vaccinations – including those against Covid-19 and seasonal flu – previously recommended by a federal advisory committee, America’s Health Insurance Plans said Wednesday, Sept. 17, 2025. In this photo is a free flu and Covid-19 vaccine shots available sign, CVS, Queens, New York. (Photo by: Lindsey Nicholson/Universal Images Group via Getty Images) UCG/Universal Images Group via Getty Images The nation’s biggest health insurance companies will continue to cover vaccinations – including those against Covid-19 and seasonal flu – previously recommended by a federal advisory committee. The announcement by America’s Health Insurance Plans (AHIP), which includes CVS Health’s Aetna, Humana, Cigna, Centene and an array of Blue Cross and Blue Shield plans as members, comes ahead of the first meeting of the reconstituted Advisory Committee on Immunization Practices, which now has new members chosen by U.S. Health and Human Services Secretary Robert F. Kennedy Jr., a vaccine critic. “Health plans are committed to maintaining and ensuring affordable access to vaccines,” AHIP said in a statement Wednesday. “Health plan coverage decisions for immunizations are grounded in each plan’s ongoing, rigorous review of scientific and clinical evidence, and continual evaluation of multiple sources of data.” The move by AHIP is good news for millions of Americans at a time of year when they flock to drugstores, pharmacies, physician’s offices and outpatient clinics to get their seasonal flu and Covid shots. Kennedy’s changes to U.S. vaccine policy have created confusion across the country over whether certain vaccines long covered by insurance would continue to be. AHIP has now provided some clarity for millions of Americans. “Health plans will continue to cover all ACIP-recommended immunizations that were recommended as of September 1, 2025, including updated formulations of the COVID-19 and influenza vaccines, with no cost-sharing…
Share
BitcoinEthereumNews2025/09/18 03:11
Silver Price Crash Is Over “For Real This Time,” Analyst Predicts a Surge Back Above $90

Silver Price Crash Is Over “For Real This Time,” Analyst Predicts a Surge Back Above $90

Silver has been taking a beating lately, and the Silver price hasn’t exactly been acting like a safe haven. After running up into the highs, the whole move reversed
Share
Captainaltcoin2026/02/07 03:15