Solana (SOL) Tumbles 6%: Can Bulls Halt the Freefall, or Do Bears Truly Hold the Reins?

TheNewsCryptoPublished on 2026-01-19Last updated on 2026-01-19

Abstract

The cryptocurrency market is experiencing a downturn, with Solana (SOL) leading the losses by declining over 6%. After reaching an early high of $143.06, SOL's price tumbled to a low of $132.82 and is currently trading around $133.73. This drop occurred alongside a significant 126% surge in its daily trading volume, which reached $5.1 billion, and saw $60.89 million in liquidations. Technical indicators are predominantly bearish. SOL has formed a death cross and is approaching a key support level at $130.21; a break below this could lead to a further decline toward $127. A recovery would require bulls to push the price above $136.47 to target resistance near $139.68. The Moving Average Convergence Divergence (MACD) is below zero, confirming the bearish trend. The Chaikin Money Flow (CMF) indicator at -0.11 points to ongoing selling pressure and capital outflow. Furthermore, the daily RSI reading of 25.55 places SOL in oversold territory, which could hint at a potential bounce if buyers return. However, the Bull Bear Power (BBP) value of -11.28 indicates that bearish dominance is strong and sellers remain in control for the near term.

With a 2.57% loss, the crypto market is floating in red, and the assets are losing momentum. The neutral sentiment is hanging across the market, as the Fear and Greed Index value is holding at 45. All the major assets are moving downward, unable to escape the bear trap. Among the altcoins, Solana (SOL) has posted a 6.12% loss.

In the early hours, Solana traded at a high range of $143.06, and the sudden bearish pressure has triggered the price toward a bottom of $132.82. Currently, Solana is trading at around $133.73, with its daily trading volume jumped by 126% to $5.1 billion. The SOL market has witnessed a 24-hour liquidation of $60.89 million.

The recent price graph of Solana hints at a downtrend. With the formation of the death cross, the price slips to the support at $130.21. Breaking past this level might push for a deeper slide below the $127.10 mark. On the upside, if SOL bulls regained power, the price could rise to $136.47. With extended gains, the golden cross would take place, potentially eyeing its subsequent resistance at around $139.68.

Solana Momentum Slips as Indicators Lean Negative

SOL’s Moving Average Convergence Divergence (MACD) line and signal line have fallen below the zero line, reflecting a bearish shift. The asset currently trades below its longer-term average, showing downward strength. A crossover above zero brings in early signs of a potential trend reversal.

Besides, the Chaikin Money Flow (CMF) indicator resting at -0.11 points out that there is selling pressure in the Solana market. The capital is flowing out of the asset, with the bears having the upper hand. Unless the value moves back above zero, the downside momentum may persist.

The daily Relative Strength Index (RSI) of Solana is settled at 25.55 indicates that it is in the oversold territory. As strong selling pressure is present, it can signal a potential bounce if the buyers step in. Moreover, Solana’s Bull Bear Power (BBP) value is stationed at -11.28 suggests strong bearish dominance. Significantly, the sellers are firmly in control, with heavy downside pressure and limited bullish strength in the near term.

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Related Questions

QWhat is the current price of Solana (SOL) and how much has it lost in the last 24 hours?

ASolana is currently trading at around $133.73 and has posted a 6.12% loss.

QWhat key technical indicator suggests a bearish shift for Solana's price momentum?

AThe Moving Average Convergence Divergence (MACD) line and signal line falling below the zero line reflects a bearish shift.

QWhat does the Chaikin Money Flow (CMF) value of -0.11 indicate for the Solana market?

AA CMF value of -0.11 indicates that there is selling pressure and capital is flowing out of the asset, with bears having the upper hand.

QAccording to the RSI, is Solana currently in oversold or overbought territory?

ASolana's daily Relative Strength Index (RSI) is at 25.55, which indicates it is in the oversold territory.

QWhat are the critical support and resistance levels mentioned for Solana's price?

AThe critical support level is at $130.21, with a break potentially leading to a slide below $127.10. The key resistance levels are at $136.47 and, with extended gains, around $139.68.

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