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SOL holding $162, next $145?

Published: Feb 18, 2025
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Solana ($SOL) struggles to hold $162 as Bitcoin’s move looms large. With resistance at $188 and $203, can SOL reclaim higher levels or is $145 next? Let’s analyze the latest price action and key levels.

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Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.


  • SOL's Open Interest has gone from 24m SOL to now 32m SOL, as the price has gone from $200 down to $165.
  • SOL's Funding Rate has fluctuated between negative and positive.
  • Overall, this may need more reset, and this will likely be a time capitulation/reset rather than a price reset.
SOL's open interest:

5. Solanas open interest and price chart, depicting rising open interest alongside price fluctuations in the futures market.

Technical analysis

  • SOL broke out from its main downtrend line, but it couldn't reclaim the horizontal level of $203. The price was then rejected from there and the price immediately moved down to the next horizontal support at $165. This is a good example of how crucial key horizontal levels can be for price.
  • The price is now at the next horizontal support of $162.
  • Beneath the current support, we have $145 and $120 as the next two key levels to the downside.
  • The RSI on the Daily and on smaller timeframes is now in oversold territory, whilst it's also well below its moving average.
  • To the upside, $188 is likely to be the next local resistance.
6. Solanas price action showing critical support levels at 145 and 120, while RSI hovers in oversold territory.
  • Next Support: $162
  • Next Resistance: $188
  • Direction: Neutral
  • Upside Target: $188 (maybe $203)
  • Downside Target: $145

Cryptonary's take

If BTC doesn't break down here, then SOL might be due for a small bounce in the short term. We're at a key horizontal support, with the indicators being quite oversold. However, we wouldn't expect $188 to say $203 to be flipped. It's possible we get into that zone, but we don't expect the price to reclaim $203 and move higher from there in the short term.

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