Solana price trades around $159 at the time of writing. SOL is showing signs of a pullback after a strong run earlier this year. It had its yearly high since January of about $295.
Market analyst Crypto Patel shared a short-term view on SOL on X, warning that the price could drop further if key levels don’t hold.
According to Patel, SOL has broken its bullish structure and is now trading inside a descending channel. The chart shows that SOL was rejected from the fair value gap (FVG) zone between $165 and $175.
This rejection signals short-term bearish momentum. As long as SOL stays below this zone, sellers remain in control, keeping the price under pressure.
Key Support Levels to Watch for SOL Token
Two critical support levels are visible on the chart. Support 1 sits at $131, while Support 2 is further down at $104. If SOL continues its current downward path, the Solana token could first test $131.
A break below this level could accelerate the drop toward $104, which would mark a significant pullback from current levels. This channel of movement emphasizes the importance of monitoring these price points closely.
On the upside, the resistance lies around the FVG zone of $165–$175. Crypto Patel notes that SOL needs to break and close above $206 to invalidate the current bearish outlook. Doing so could trigger a strong bullish reversal for Solana, potentially sending SOL price toward $250–$300.
Until that happens, SOL remains under pressure, and caution is warranted for those tracking short-term movements.
What This Means for Solana Token Holders
Solana’s price may keep falling before it finds a strong rebound. The descending channel shows where SOL could dip next. Support levels mark where buyers might step in, while resistance levels show where momentum could change.
Crypto Patel’s analysis suggests SOL is in a delicate spot. Watching these key levels could reveal if the token continues down or bounces sharply. For now, short-term signals look more bearish than bullish. But the markets can shift quickly once key points are tested.
The short-term outlook for Solana is tricky. Key levels to watch are $131, $104, and the FVG zone. SOL’s next moves in this range could shape its path in the coming weeks.