Amid a period of widespread bearishness across the cryptocurrency market, Solana (SOL)’s next major move hinges on a critical level at $200, which it must reclaim and hold above to signal real strength and re-ignite bullish momentum.
Key Takeaways:
- Solana must reclaim and hold above $200 to confirm bullish continuation and target the $260 resistance.
- $200 is a technical and psychological pivot that determines whether recent dips were accumulation or a trend breakdown.
- Failure to flip $200 increases the probability of a drop toward $158, $130, or even $100 before the next major rally attempt.
Why $200 is More Than Just a Price Level
If Solana does manage to reclaim this level, then a measured rebound toward $260 as the next major resistance zone can become a realistic scenario, judging by the analysis shared by popular crypto trading expert Ali Martinez in an X post on November 3.
As it happens, the structure on the higher time frame remains constructive, but momentum has cooled, and the market is testing conviction following a powerful rally for Solana through 2024 and mid-2025.
Its recent price action reflects hesitation around supply zones and a broader cooling in speculative appetite. In such phases, reclaiming key levels isn’t just a bullish technical trigger, but a sentiment shift.
Currently, Solana is trading at the price of $176.01, recording a decline of 4.45% on the day, an 11.64% dip over the past week, and an accumulated loss of 22.56% across the previous 30 days, according to the most recent SOL charts.
To Reclaim or to Break? The $200 Turning Point
All things considered, a clean reclaim of $200 would validate support-turned-resistance logic, flip market structure upward, and show buyers are willing to re-engage aggressively. It would also confirm that recent downside wicks were accumulation rather than distribution. That’s why $200 isn’t just a price but a psychological reactivation point.
On the other hand, failure to reclaim $200 would bring on a different path in which SOL would grind lower toward major demand zones, with the chart suggesting potential tests at $158, then $130, and even $100 if momentum fully unwinds. This wouldn’t erase Solana’s broader bullish trend, but would imply a deeper reset phase before a sustainable move higher.
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What do you think?
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