Solana (SOL) Dips Toward Support Level — What Technical Setup Could Signal Next Move?

Date: Fri, Nov 14, 2025 | 02:50 PM GMT

The broader cryptocurrency market is experiencing significant correction pressure. Bitcoin (BTC) and Ethereum (ETH) have both retreated over 5% within the last 24 hours, triggering a cascade of forced liquidations exceeding $1.38 billion. Long positions bore the brunt, with approximately $1.21 billion in losses accumulated in just one day. Layer-1 tokens have felt the impact acutely, and Solana (SOL) has dipped more than 6% during this selloff.

Currently trading at $125.87 with a modest +1.25% intraday recovery, SOL appears to be testing a critical technical structure that traders are closely monitoring for potential reversal signals.

The Falling Wedge Pattern: Reading the Tea Leaves

Examining SOL’s daily timeframe reveals an interesting technical formation — a falling wedge pattern. This chart structure typically emerges when selling pressure begins to exhaust and price action compresses into an increasingly tighter range between two converging trendlines.

The most recent move lower pushed Solana down to approximately $135.76, near the wedge’s lower boundary. This zone has consistently functioned as a reaction point where buying interest resurfaces. From this level, SOL has rebounded to test $142.34, suggesting that accumulation may be underway as buyers defend the support structure.

A notable observation: each time price has touched the wedge’s lower boundary over recent weeks, an immediate bounce has followed. This repetitive pattern of rejection at this support zone typically indicates seller fatigue and potential institutional accumulation activity.

Mapping the Risk-Reward Scenario

Bullish Case: If Solana maintains its footing above the support trendline and consolidates within the wedge structure, upward momentum could rebuild progressively. The primary target would be the $156 level, where the wedge’s upper boundary converges with historical resistance. A decisive break above this barrier could accelerate buying momentum toward the $273 resistance zone — a level that marks significant supply on longer-term charts.

Bearish Case: Should support fail and price decisively break below the wedge foundation, SOL would face exposure to deeper weakness. The $126 level represents the next meaningful support floor to monitor if the current structure breaks down.

The technical setup at hand presents a classic risk-reward dynamic that traders are positioning around — a compressed pattern nearing its resolution point.