Solana Price Recovery in Focus as SOL Holds Crucial $133 Support

TLDR:

• Solana price holds $133 support, a historically respected demand zone.
• Daily candles show hesitation, signaling potential early market stabilization.
• RSI at ~40 indicates bearish momentum starting to flatten.
• CoinShares withdraws staked SOL ETF, while other products continue trading successfully.

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Solana continues to trade in a cautious environment as the market attempts to stabilize following its November decline. 

Price action remains compressed, and traders are watching established support levels for early signs of strength.

At the time of writing, SOL was trading near $137 after a weekly rise of about 8%. Short-term momentum remains soft, yet the recent structure shows a market searching for direction rather than extending its decline.

Solana Price Analysis and Technical Setup

According to CryptoPulse, Solana is approaching a “textbook continuation play” around the $133 support zone. The tweet explains that price has historically respected this level, with buyers stepping in aggressively whenever it was tested.

CryptoPulse suggests that traders wait for the price to approach $133 and observe early buyer activity before building positions. This perspective frames $133 as an area of active demand rather than a static line, highlighting a controlled pullback rather than weakness.

The daily chart shows SOL trading below the 20-day EMA, indicating a short-term downtrend. Candles between $135–$140 reflect reduced selling pressure, matching CryptoPulse’s view that the market is in a compression phase. 

Momentum, measured by RSI near 40, shows a bearish but flattening trend, supporting the idea that the market may stabilize before moving higher.

ETF Withdrawal Introduces New Developments for Solana Investors

A new regulatory update entered the discussion after CoinShares withdrew its filing for a staked Solana ETF, according to an SEC filing.

The firm stated that the transaction required for the fund never occurred, and therefore, no shares were or will be issued under the proposal. This development arrives during increased attention on staked Solana products in the United States.

Other providers continue to operate similar offerings. REX-Osprey launched the first staked Solana ETF in June, and Bitwise followed in October.

Bitwise’s product opened with substantial early demand, reaching nearly $223 million in assets on its first trading day. The difference in approaches reflects the varied strategies among issuers navigating the evolving regulatory landscape.

Despite the withdrawal, market observers remain focused on Solana’s broader ecosystem activity. 

CryptoPulse also emphasized the network’s ongoing partnerships and expanding liquidity base. These elements form part of the backdrop against which traders evaluate SOL’s technical structure and potential reactions at established support levels. 

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