Finance

Solana Navigates Critical Support: Will SOL’s Price Rebound or Plunge?

Solana hovers near support; analysts watch signals for a rebound after a 16% weekly drop.

November 17, 2025, 9:22 AM

A phone screen displays the Solana price chart on the Coinbase app against the Solana logo. By Camilo Concha / Shutterstock.com.

Executive Summary

Solana (SOL) is hovering near critical support levels at $142.27 after a nearly 16% weekly decline, signaling a pivotal moment for its price direction.

A TD Sequential buy signal suggests a potential short-term rebound, while Elliott Wave analysis and high-volume zones indicate significant support and resistance thresholds.

Key price levels to watch include the $136–$139 support band, the $127 Elliott Wave threshold, and high-volume zones between $135–$145 and $118–$126.

The Story So Far

Solana is currently experiencing significant weekly price pressure, leading technical analysts to meticulously apply indicators like the TD Sequential, Elliott Wave theory, and high-volume support zones to identify critical thresholds that will determine whether the cryptocurrency can stage a rebound or face further declines.

Why This Matters

Solana (SOL) is currently at a pivotal juncture, with technical indicators suggesting its ability to hold crucial support levels, such as the $136-$139 band and the $127 threshold, will dictate its immediate trajectory. A successful defense of these key price points could trigger a short-term rebound and stabilize its market structure, while a failure to hold them could lead to deeper corrections towards $117 or even $106, significantly resetting its market outlook and making the coming days critical for investors.

Who Thinks What?

Crypto analyst Ali Martinez, using the TD Sequential indicator, suggests a potential short-term rebound for Solana, noting a buy signal and identifying the $136–$139 range as a critical support band, with upward momentum confirmed above $142.

“Man of Bitcoin,” through Elliott Wave analysis, indicates that maintaining Solana’s price above the $127 level is crucial for a bullish “white scenario,” while a breakdown below this threshold could lead to deeper declines.

CryptoPulse, focusing on high-volume support zones, identifies Solana’s current test of the $135–$145 zone and a deeper, more significant zone between $118 and $126, suggesting a sweep of this lower area could reset the market for a stronger rally.

Solana (SOL) is currently hovering near critical support levels, with its price recovering slightly to $142.27 at press time, despite a significant weekly decline of nearly 16%. Analysts are closely monitoring technical indicators and key price thresholds to determine the asset’s next directional move after a volatile trading period.

TD Sequential Signals Potential Rebound

Crypto analyst Ali Martinez identified a fresh TD Sequential buy signal on Solana’s 12-hour chart. This indicator, often appearing near market exhaustion points, flashed its signal after a completed red nine count, suggesting a potential short-term rebound attempt.

Solana is stabilizing near the $136–$139 support band, a zone that has previously cushioned pullbacks and attracted buyers. Martinez indicates that a sustained break above $142 would confirm upward momentum, while failure to hold the lower boundary could expose further downside targets at $131 and potentially $126.

Elliott Wave Outlook and Crucial Thresholds

Further technical analysis from “Man of Bitcoin” highlights the broader Elliott Wave roadmap, which hinges on the $127 level. Maintaining price action above this threshold keeps a bullish “white scenario” valid.

A breakdown below $127 could open deeper ranges aligned with extended Fibonacci projections, potentially targeting areas around $117 and $106. Current price action is also drifting toward the 0.786 and 0.887 Fibonacci region, a dense support band between $146 and $136 that has previously seen strong reactions.

High-Volume Zones to Dictate Next Move

CryptoPulse’s weekly perspective indicates that Solana is currently testing its first major high-volume support zone, spanning between $135 and $145. A deeper, more significant zone lies between $118 and $126.

A sweep of this lower area could reset Solana’s market structure, potentially setting the stage for a stronger rally. These high-volume zones have historically acted as major trend pivots in earlier market cycles.

Outlook

Despite a slight daily gain, Solana’s price remains under significant weekly pressure. The confluence of TD Sequential buy signals, critical Elliott Wave thresholds, and high-volume support zones suggests a pivotal moment for the asset, with market participants closely watching whether buyers can regain control and prevent further declines.