Solana capped at $146; bearish RSI divergence raises risk of drop to $117
Solana (SOL) failed to reclaim the $146 range-high resistance and is printing a clear bearish RSI divergence, indicating weakening upside momentum. The divergence formed near the $146 ceiling, a key supply area, suggesting sellers are defending that level. Traders should watch the Point of Control (POC) within the current range: a close below the POC would confirm shifting value and increase the probability of a corrective rotation toward the $117 high-time-frame support. While divergence signals vulnerability rather than guaranteed breakdowns, failure to break and hold above $146—especially on rising volume—lowers breakout odds and raises rejection risk. Key technical points for traders: SOL remains capped under $146; bearish RSI divergence signals fading momentum; a confirmed break below the POC opens a target near $117. Monitor close-of-period price action around the POC and volume for confirmation before committing to directional trades.
Bearish
The article identifies a clear bearish RSI divergence at the $146 range-high, plus repeated failure to reclaim that resistance — both are technical signs that upside momentum is weakening. The Point of Control (POC) is highlighted as the structural trigger: a close below the POC would confirm shifting value and make a rotation toward the $117 support likely. Historically, divergences at major range highs often precede corrective moves when not accompanied by strong breakout volume; similar setups in altcoins have led to range re-tests or deeper pullbacks. Short-term impact: increased rejection risk at $146 and higher probability of a pullback to POC or $117 if POC breaks. Traders should expect higher volatility and look for confirmation (POC break on close, rising sell volume) before entering short positions. Long-term impact: unless SOL can decisively break and hold above $146 with expanding volume, the market structure remains range-bound — meaning repeated cycles between $146 and $117 may continue until a clear breakout occurs. Risk management: use tight stops on failed-breakout trades and avoid assuming divergence alone guarantees collapse; wait for structural confirmation.