Solana traded at $141.50 on 27 November 2025, extending its modest rebound after a sharp multi-week fall that pushed the asset to $121.66, its lowest level since mid-summer. The 1D chart covering the period from 17 July to 27 November 2025 illustrates a full cycle of strength, peak exhaustion, a sustained downturn and a recent attempt by buyers to stabilise the price.
Strong summer trend loses steam heading into October
SOL showed consistent upward momentum during August and the first half of September, repeatedly forming higher highs supported by rising buyer volume. This period marked a strong medium-term uptrend, driven by market participation and positive sentiment across major altcoins.
However, by late September, the chart began to demonstrate signs of fatigue. Attempts to push higher met repeated selling, and several long upper wicks indicated rejection at elevated levels. The flattening of the major moving averages signalled that the upward structure was weakening.
Clear downtrend emerges as moving averages flip bearish
From early October onwards, Solana entered a well-defined downtrend. The candles formed a sequence of:
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Lower highs
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Lower lows
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Breakdowns below the MA(25) and later the MA(99)
The shift in the moving averages — with the short-term lines crossing below the mid- and long-term lines — confirmed a bearish phase. Increased selling volume throughout October and early November accelerated the decline, dragging SOL down to $121.66.
Bounce off $121.66 marks the first significant counter-move
After hitting the November low, SOL recorded a steady rebound, printing several green candles and forming short-term higher lows. This recovery suggests that bearish momentum has temporarily weakened. While the rebound remains moderate, it represents the first constructive upward movement in several weeks.
Major resistance zones remain overhead
Despite the ongoing bounce, the broader trend still leans bearish, with SOL trading beneath all key moving averages:
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MA(7): ~$135.54
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MA(25): ~$146.00
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MA(99): ~$192.63
These levels act as strong overhead resistance zones that must be reclaimed for any major structural shift. The distance from the 99-day average highlights the extent of the recent downturn.
Volume behaviour reflects capitulation followed by cautious accumulation
Volume surged during the decline, reflecting forced selling and market exits. Over the past several sessions, volume has moderated and displayed a more balanced profile between buyers and sellers. This shift typically aligns with transitional periods where markets attempt to stabilise following a rapid fall.
Chart suggests a move from decline to possible base formation
Based solely on visible chart data:
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The aggressive downtrend appears to have slowed considerably.
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Price has rebounded from the $121–$142 region, hinting at early base-building efforts.
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Short-term moving averages are flattening but still point downward.
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Long-term average (MA99) remains far above the price, indicating broader weakness.
SOL is now positioned in a transitional phase where selling pressure has eased but recovery attempts remain constrained by overhead resistance.
Disclaimer: This article presents a neutral technical analysis based only on publicly visible chart data. It is not financial advice, investment guidance or a forecast of future price movement.
