SOL Drops to $98 as Solana Tests Key Demand Zone After Rally Stalls Near $146

⬤ Solana (SOL) is going through a correction on the higher timeframes after its recent relief rally ran out of steam. SOL had formed a three-day and one-week swing failure pattern that sparked a bounce, but that move topped out around $146. That rejection marked the last time bulls managed to push price higher before the momentum started to fade. The chart shows SOL rolling over from lower highs and sliding back toward a broader demand zone after failing to hold key support.

⬤ After getting rejected near $146, Solana lost some important levels on the higher timeframe structure. The weekly reference sits near $201, and the three-day level is around $155—both are now well above where SOL is trading. With price currently near $98, it’s back inside a long-term demand zone that acted as a base during earlier consolidation. Losing that support signals the momentum has shifted from continuation mode to correction territory.

⬤ Two scenarios are now in play from a structural standpoint. If the current demand zone doesn’t hold, there’s room for another 20% to 30% drop before hitting stronger support. The other possibility is a failed breakdown—where price dips lower briefly but then reclaims what it lost. If that happens, a move back toward $155 would be back on the table. Until we see either a clear reclaim or a reaction from deeper support, price action is stuck in range-bound mode rather than trending.

⬤ This phase matters for the broader crypto market since Solana tends to reflect shifts in risk appetite across digital assets. Whether SOL finds footing inside this demand zone or extends lower will shape near-term sentiment and help define the trend structure for altcoins moving forward.