Bears Target Key Support Level as Momentum Fades

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Bears Target Key Support Level as Momentum Fades

• Solanas $180 support remains crucial as sellers tighten control over short-term trend
• Rising open interest above $10B hints at growing volatility and potential liquidation risk
• Recent inflows show cautious optimism returning after months of profit-taking pressure

Solana (SOL) is under renewed selling pressure after failing to reclaim the $190 resistance level. The cryptocurrency trades near $185, staying below the mid-Bollinger Band, which signals weakening short-term momentum. Analysts note that the breakdown from recent support suggests sellers have regained control, with momentum indicators aligning to the downside.

Key Levels Define Near-Term Direction

Immediate support for SOL lies between $180 and $182, aligning with the lower Bollinger Band. A close below this range could expose the price to $170, which coincides with the previous swing low and the 0% Fibonacci retracement level. Consequently, defending the $180 mark is critical to prevent further declines.

SOL Price Dynamics (Source: TradingView)

On the upside, the zone between $192 and $195 acts as the key pivot area. It aligns with the 20-day simple moving average and the 38.2% Fibonacci retracement. Reclaiming this level could restore bullish sentiment in the short term.

Beyond that, further resistance appears at $203 and $211, where the 50% and 61.8% Fibonacci levels are located. These levels are likely to invite strong selling pressure if recovery attempts continue.

Momentum and Derivatives Show Divergence

The RSI remains weak at 39, reflecting mild oversold conditions but lacking confirmation of a reversal. A rebound above 45 may indicate renewed buying strength toward the $192 resistance zone. Until then, bearish momentum remains intact.

Source: Coinglass

Meanwhile, Solanas futures open interest surged to $10.63 billion on October 31, signaling increased speculative activity. This rise followed a quiet consolidation phase earlier in the quarter.

Sustained open interest above $10 billion often points to heightened volatility expectations. However, if prices decline while leverage remains high, it could indicate overcrowded trades and potential liquidation risks.

Inflows Suggest Gradual StabilizationSource: Coinglass

Solanas spot inflows and outflows show changing investor sentiment throughout 2025. Inflows peaked in January and February, exceeding $300 million, suggesting strong accumulation.

From March to August, outflows dominated, signaling profit-taking and reduced demand. Recently, inflows have picked up again, with a net inflow of $236,000 recorded on October 31.

Technical Outlook for Solana Price

Key levels remain clearly defined heading into November:

• Upside levels: $192–$195 serves as the first hurdle, aligning with the 20-SMA and 38.2% Fibonacci zone. A breakout above $195 could extend gains toward $203 and $211, marking the 50% and 61.8% Fibonacci retracement levels respectively.
• Downside levels: $182–$180 forms critical short-term support, followed by $170, the prior swing low and key demand area. A breakdown below $180 may expose the price to $165 or even $155 if selling pressure accelerates.
• Resistance ceiling: $195 remains the key level to flip for any medium-term bullish confirmation. Sustained trading above this threshold could reestablish upward momentum and signal renewed market strength.

The technical structure shows Solana consolidating below its mid-Bollinger Band, indicating that the market is coiling within a narrowing range. A decisive breakout from this compression could ignite volatility expansion in either direction.

Will Solana Rebound？

Solanas near-term outlook hinges on whether buyers can defend the $180 support zone amid persistent bearish momentum. If RSI rebounds above 45 and inflows continue improving, a retest of $192–$203 becomes likely. However, failure to hold $180 would confirm a bearish continuation toward $170 or lower.

For now, Solana remains in a pivotal zone. Futures open interest above $10 billion suggests rising speculative activity, but conviction from spot inflows will determine if the next major move favors recovery or further decline.