Solana Price Likely to Dip to $140 as Bitcoin Falters
Solana price has fallen nearly 10% from a weekly high of $171.9 to around $155. The breakdown of a symmetrical triangle on the daily chart confirmed a bearish trend after losing the $180 support level. On-Balance Volume (OBV) is declining and the Money Flow Index (MFI) remains below 50, signalling sustained selling pressure.
SOL price on hourly charts shows the $145–$155 demand zone, in place since November 4, subject to repeated tests amid weak buying pressure. A liquidation heatmap reveals liquidity clusters at $144 and $140, suggesting a likely dip to $140, or even $120 in extreme cases, before any rebound.
Solana’s correlation with Bitcoin stands at 80–90%. Its recovery now hinges on Bitcoin holding above $98,000–$100,000; a BTC sell-off could accelerate Solana’s fall. Despite robust on-chain fundamentals, short-term sentiment remains neutral to bearish. Traders should monitor key support levels, Bitcoin’s trajectory and prepare for short-term entry and risk management opportunities.
Bearish
The unified analysis points to a clear bearish outlook for Solana price. A breakdown from a symmetrical triangle and loss of the $180 support level triggered fresh sell-offs, confirmed by declining OBV and a sub-50 MFI on daily charts. The $145–$155 demand zone is repeatedly tested amid weak buying, and liquidation heatmap data highlight clusters at $144 and $140—levels likely to be revisited before any recovery. Furthermore, Solana’s strong 80–90% correlation with Bitcoin makes its short-term trajectory dependent on BTC holding $98,000–$100,000; a Bitcoin sell-off could drive SOL down toward $140 or lower. While on-chain fundamentals remain solid, market sentiment is neutral to bearish, suggesting traders focus on risk management, short-term entries around key support zones, and watching Bitcoin’s movements for confirmation.