The SOL/USD pair has broken out of its long-term upward channel and continues to develop a new trend for the third consecutive month. The price is currently trading near 140.62 (Murray level [1/8], Fibonacci 23.6% correction). A firm break below this area would open the way toward 109.38 (Murray level [–1/8], Fibonacci 0.0% correction) and 93.75 (Murray level [–2/8]). For the bulls, the key resistance remains at 165.70 (Fibonacci 28.2%), located above the middle Bollinger Band. A breakout above this level could trigger an exit from the descending channel through its upper boundary and pave the way toward 203.12 (Murray level [5/8], Fibonacci 61.8%), 234.38 (Murray level [7/8]) and 250.00 (Murray level [8/8]). However, such a scenario appears less probable in the near term
Technical indicators support the likelihood of continued downside movement: the Bollinger Bands are sloping downward, and the Stochastic oscillator is pointing upward, allowing for a possible short-term correction, though its potential seems limited. At the same time, the MACD remains stable in negative territory.
The weekly chart also shows the formation of a potential “double top” pattern, which reinforces the downside outlook toward 93.75 (Murray level [3/8], W1).
Support and Resistance Levels
Resistance levels: 165.70, 203.12, 234.38, 250.00.
Support levels: 140.62, 109.38, 93.75.
Trading Scenarios and SOL/USD Forecast
Short positions may be considered below 140.62 or on a reversal near 165.70, targeting 109.38 and 93.75, with stop-losses at 160.40 and 184.00, respectively. Estimated duration: 5–7 days.
Scenario
| Timeframe |
Weekly |
| Recommendation |
SELL STOP |
| Entry Point |
139.40 |
| Take Profit |
109.38, 93.75 |
| Stop Loss |
160.40 |
| Key Levels |
93.75, 109.38, 140.62, 165.70, 203.12, 234.38, 250.00 |
Alternative Scenario
| Recommendation |
SELL LIMIT |
| Entry Point |
165.70 |
| Take Profit |
109.38, 93.75 |
| Stop Loss |
184.00 |
| Key Levels |
93.75, 109.38, 140.62, 165.70, 203.12, 234.38, 250.00 |
John Isige is an experienced cryptocurrency journalist and market analyst specializing in digital assets, blockchain innovation, and emerging Web3 trends. He provides clear, actionable market insights for traders and investors, with particular expertise in DeFi, smart contracts, NFTs, RWAs, and AI-powered blockchain ecosystems. His commentary and analysis have been featured in FORECK.INFO, CoinGape, CryptoNews, and other leading digital finance publications
