- The formation of a breakdown pattern could cause SOL to lose half of its value when reaching approximately $65.
- The market forces keep pressuring Price since SOL registered a 4.9% decrease while maintaining high trading variability.
- Market participants track the important range of $125–$137 to determine whether SOL will rise or experience additional downward pressure.
Solana (SOL) as a leading cryptocurrency currently stands at a key support-resistance juncture which indicates traders should anticipate a price descent towards $65 based on its technical analysis. The market monitors this development closely after the price dropped steeply from its late 2024 peak at $260 down to its current position at $126.
Solana Forms Bearish Wedge Pattern, Eyes 50% Drop Toward $65
The 3-day SOL/USDT price chart displays a right-angled ascending broadening wedge which typically indicates bearish market reversal patterns during extended uptends. The pattern forms across multiple months while the upper boundary shows gentle incline upward and the lower support area maintains stability at $137–$138.
The crypto exchange Solana finalized at $127.99 on April 15th 2025 after its unsuccessful attempt to regain the vital support which transformed into resistance at $137. The critical base for sideways consolidation phases operated in this area across mid-to-late 2024.
The potential confirmation of this breakdown pattern indicates a price destination near $65 as its measured outcome based on the total breakdown distance from current levels. This potential target would represent approximately 50% depreciation from the present market value.
Solana Drops 4.9% Amid Market Volatility and Investor Caution
The price of Solana stands at $126.01 as of April 16 after experiencing a 4.9% decrease during the previous day. The price movements during the 24-hour period show high volatility because SOL changed hands between $123.93 and $133.85. SOL holds a 3.1% value decline on the BTC trading pair with a current price of 0.001499 BTC which shows additional signs of market weakness.
Solana faces technical issues because investors remain uneasy about crypto markets which are affected by economic unpredictability and regulatory actions.
Break Below $137 Risks Deeper Drop Toward $80–$65 Zone
The price breaking below $137 resistance while facing repeated rejection attempts strengthens the chances of ongoing price decline. Failure to protect the psychological support cluster at the breakdown zone could trigger swifter market sell-off that pushes prices toward the $80-$65 range.
The move below this level will destroy any prior bullish patterns while making the sellers gain momentum which might create additional opportunities for traders to take short positions.
Traders Eye $125–$137 Range for Breakout Clues
Market participants need to track both price movement and trading volume in the $125–$137 share price range. If there is both price elevation to $137 alongside high trading volume such bearish manifestations would potentially become invalid yet declining beneath $120 would signal ongoing downward trends. Until such time traders will tend to exercise caution while waiting for definite market signals.
