Solana continues to hover near important support levels, with traders watching for confirmation of a market shift after a volatile week. The asset’s price recovered slightly to $142.27 as of press time, yet the broader structure still reflects sustained pressure. Market data shows a 0.79% daily gain but a significant weekly decline of nearly 16%.
TD Sequential Signals Potential Strength
Ali Martinez noted a fresh TD Sequential buy signal on the 12-hour chart. That setup often appears near exhaustion points. The indicator flashed its signal after a completed red nine count. This pattern strengthens the argument for a short-term rebound attempt.
Moreover, Solana now stabilizes near the $136–$139 support band. This zone cushioned previous pullbacks and attracted early buyers. Martinez believes a break above $142 would confirm momentum. Failure to hold the lower boundary exposes $131 and later $126. This creates a tight technical window where buyers attempt to regain control.
Elliott-Wave Outlook Suggests Crucial Threshold
Man of Bitcoin outlined a different structural risk. He pointed to the broader Elliott-wave roadmap, which depends on the $127 level. Holding above $127 keeps the white scenario valid. A breakdown opens deeper ranges linked to extended Fibonacci projections. These projections align with areas around $117 and $106.
Additionally, price action drifts toward the 0.786 and 0.887 Fibonacci region. That cluster forms a dense support band between $146 and $136. This region attracted strong reactions during earlier declines. However, momentum still favors a final liquidity sweep unless $127 remains intact.
High-Volume Zones Shape the Next Move
Source: X
CryptoPulse highlighted a broader weekly perspective. Solana now tests the first major high-volume support zone near $135–$145. A deeper zone sits between $118 and $126. A sweep of the lower area would reset the structure and potentially prepare for a stronger rally. Besides, this area created major trend pivots during earlier cycles.
Source: https://coinpaper.com/12406/solana-td-signal-hints-at-reversal-as-analysts-eye-142-level
