Solana Falls: SOL/BTC Drops Below Monthly Support; SOL/USD Breaks Weekly Neckline
Solana (SOL) showed renewed weakness against Bitcoin and the US dollar after technical charts signaled bearish breaks on multiple timeframes. The SOL/BTC pair closed the month around 0.00125 BTC, trading between ~0.00112–0.00135 BTC on Binance, and finished below a key monthly support/resistance area near 0.00144 BTC. Analysts flagged two downside targets at ~0.00101 BTC and a deeper zone near ~0.00060 BTC if selling continues. On USD charts, SOL broke a long-term weekly neckline from a multi-year head-and-shoulders pattern. The weekly breakdown pushed price below a gray support band in the low hundreds of dollars, with the chart showing SOL near $79 and printing a lower wick that indicates buyer reaction but not a full recovery. A weekly close back above the neckline (and a monthly reclaim of 0.00144 BTC on SOL/BTC) would reduce immediate bearish pressure. Key implications for traders: bearish technical structure on both BTC-relative and USD charts, clear short-term support targets (0.00101 BTC, 0.00060 BTC; ~low hundreds and lower $100s in USD), and critical reclaim levels to watch (0.00144 BTC monthly close; weekly reclaim of the neckline).
Bearish
The technicals point to a bearish outlook. SOL/BTC closing below a major monthly support (0.00144 BTC) increases downside risk and signals Bitcoin is outperforming Solana. The presence of defined lower targets (0.00101 BTC and 0.00060 BTC) gives traders concrete levels for stops, shorts, or layered buys. Concurrently, SOL/USD broke a multi-year head-and-shoulders neckline on the weekly chart — a classical reversal pattern — and price sits below an important support band in the low hundreds, with the current price near $79. Historical precedents show that monthly/weekly closes beneath long-term support often lead to extended downside pressure as longer-term holders reduce exposure and momentum traders flip bearish. Short-term, expect increased volatility, possible capitulation to the first support level, and heightened liquidation risk on leveraged positions. Longer-term, recovery requires reclaiming the neckline (weekly) and the 0.00144 BTC monthly line; failure to do so can prolong underperformance versus Bitcoin and push SOL toward lower-cycle demand zones. Traders should watch the reclamation levels for signs of trend reversal and use the identified supports for risk management.