Solana Price Stabilizes Amid Volatility: Can Bulls Take Control?
As of November 24, 2025, Solana (SOL) is trading near $130 following a turbulent week of price swings. The cryptocurrency has found momentary stability after multiple tests of critical support levels between $121 and $123. Traders are closely monitoring this zone, as holding above it is pivotal for SOL’s future trajectory.
Technical Analysis: Death Cross and Declining Channel
A technical pattern known as the “death cross” is forming, signaling potential extended bearish momentum. This occurs when the 50-day moving average crosses below the 200-day moving average, a historically bearish indicator last observed in early 2023 for Solana.
The cryptocurrency has been confined to a descending channel since mid-September. Repeated failures to break out of this channel have underscored the bearish market structure marked by progressively lower highs.
Support and Resistance Levels to Watch
The $121 to $123 range has emerged as a key support zone, with aggressive buyers defending this area through repeated dip buying. Candlestick charts indicate strong demand with long lower wicks appearing at this support level.
On the resistance side, bulls need to surpass $135, which aligns with the 61.8% Fibonacci retracement level of the decline from $145 to $121. Beyond this, reclaiming $140 is essential to shift momentum. However, a confirmed trend reversal would require clearing the channel’s upper boundary near $172.
Momentum Indicators Point to Mild Recovery
The Relative Strength Index (RSI) currently sits at 33, indicating slightly oversold conditions and a mild bullish divergence. On the hourly chart, the MACD indicator has turned positive, signaling short-term bullish momentum. As of now, Solana has managed to climb above $130 and the 100-hourly simple moving average, a positive signal for traders eyeing a recovery wave.
Downside Risks Remain
If Solana fails to hold the $121 support level, it could accelerate towards $107 or even $95, especially if the death cross prompts more aggressive selling. Intermediate support levels such as $127 and $124 may provide some temporary relief. A close below $124, however, could trigger heightened bearish momentum.
How Traders Are Approaching Solana
Market participants are watching closely as Solana attempts to recover alongside Bitcoin and Ethereum. This synchronized movement among major cryptocurrencies could provide a tailwind for SOL’s recovery. Nonetheless, caution is advised as macroeconomic uncertainty and crypto sector dynamics can impact market sentiment.
Recommended Resource: Solana-Compatible Hardware Wallet
To safeguard your Solana holdings amid market volatility, consider using a reliable hardware wallet like the Ledger Nano X. This wallet supports SOL and provides advanced security features to protect your assets from online threats.
Stay updated as Solana strives to overcome key resistance levels and establish a bullish trajectory in the coming weeks.
