Solana’s SOL Token Stabilizes at $140 After Recent Price Fluctuations
Solana's native token, SOL, is trading at $140.46, a 1.41% decrease in the last 24 hours. It previously dropped by 4.9% from $142.91 to $135.96 but has stabilized between $140 and $142, with support noted at $140.40.
Recent developments include support for wrapped Bitcoin (WBTC) on the Solana network. Analysts have differing forecasts: some predict a potential rise toward $200, while others foresee a pullback to the $123–$135 range.
Technical Analysis Highlights
- SOL declined 4.9% from $142.91 to $135.96, establishing a 7.08-point trading range.
- The asset recovered, forming a consolidation pattern between $140 and $142.
- High-volume support appeared at $140.40 during the 13:00 hour.
- SOL surged from $140.48 to $141.40 between 14:32 and 14:37.
- Selling pressure reduced the price to a session low of $140.29.
- A descending channel formed with lower highs and lower lows; resistance at $142.65 has capped price action twice.
- Concentrated selling volume occurred during the 15:10 candle, indicating near-term bearish sentiment.