Solana Holds $159 Support Despite Sell Pressure, Here’s Why This Could Signal a Rebound

TD Sequential flashes buy signal as SOL holds $159 support, signaling possible rebound setup.

$150–$156 zone is key support as SOL slips below 34-day EMA amid rising volume and sell pressure.

Whale transfer of $161M in SOL and $323M net losses suggest stress, but structure remains intact.

Solana is currently trading at $156.56 after retracing from its recent high near $180. Despite the ongoing market correction, analysts are closely watching the $159 support level. As long as SOL holds above this zone, it could be primed for a rebound, especially with the TD Sequential indicator now flashing a buy signal.

Solana Tests Key Levels After Support Breakdown

According to an observation by Emma on X, SOL broke below its inverse head and shoulders breakout and failed to hold key support near $175.58. This breakdown flipped short-term momentum bearish, sending the price toward the $152–$155 demand zone.

Source: Emma(X)

Solana has also dropped below its 34-day EMA at $163.20, while volume has increased, pointing to stronger sell pressure. Still, the $150–$156 range is now acting as a critical support zone, with the 50-day and 100-day moving averages aligning here. If this area holds, a base for recovery may be established.

Ali Martinez shared that “as long as SOL holds above the $159 support level, the structure remains bullish.” He added that the TD Sequential indicator is now showing a buy signal, which often suggests the end of a retracement and the start of a new impulse.

Market Activity and Weekly Close in Focus

On-chain data from Whale Alert reported a large transfer of 999,998 SOL worth approximately $161 million between unidentified wallets. This move occurred alongside a sharp drop in price and rising volume, which may indicate increased activity among large holders during market stress.

Source: TradeByte(X)

Trade Byte noted on X that net realized profit and loss flipped red, with $323 million in losses recorded at $156. While not calling for capitulation, the analyst said the current setup "feels familiar," referencing past corrections

Source: RektCapital

Meanwhile, Rekt Capital emphasized the importance of SOL continuing to close weekly candles near its range high, suggesting that maintaining this level could support a future rally beyond $200.

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