Solana (SOL) is up by 2.4% over the past 24 hours. However, on the monthly timeframe, SOL still has a bearish outlook having dropped by 22.5%. Key resistance points have held the price at bay and could further upside momentum
At the same time, long-term wallet activity is moving in the wrong direction. Long-term holders(LTH) are trimming their positions, raising questions about whether the recent price recovery will hold
SOL Continues to Face Bearish Pressure
SOL continues to trade under a cluster of supply stacked between $140 and $142, per the daily chart on TradingView. Today, the coin is trading at $142.16 with each approach above this zone having been met with selling
The current exponential moving averages (EMAs) structure also leans bearish. Solana is currently sitting below all the EMAs with a bearish crossover coming up. If the 200-day EMA crosses above the 100-day EMA, then SOL could face immense selling pressure
Solana (SOL) Price | Source: TradingViewFor buyers, the key line remains $143. A daily close above that level would show that supply in the $140–$142 region has finally been absorbed. Anything short of that keeps the pressure on the price. If SOL faces another resistance, the bounce will likely fizzle out, putting the lower range back in focus
Should the market fail to clear $143, downside targets might open up. The next crucial support sits around $130. This level acted as a key reaction zone in the previous correction and would likely attract buyers again. But continued rejection at $143 raises the odds that the market drifts back toward this area.
Long-Term Holders Are Pulling Back
On-chain data shows that there is an observable decline in confidence among Solana’s long-term holders. The 1-2 year cohort has reduced supply to 17.24%, down from 19.28% a month ago. This indicates that this group is not accumulating in the current market, but rather distributing into the market
Solana’s Long-Term Holders HODL Waves | Source: GlassnodeLong-term holders generally offer stability in times of uncertainty. But their move to minimize exposure is a sign that they are worried about the sustainability of the recent rebound. Furthermore, rallies tend to break when experienced holders increase supply in the market, during a weak market
This trend also aligns with current technical outlook, supporting the thesis that Solana’s recent recovery attempt is not backed by solid conviction
What’s Next for SOL?
Solana’s next major move depends on how the price reacts around the current level. Clearing resistance around $143 would give buyers their first real momentum signal in weeks. But still, this wouldn’t guarantee a shift in the trend change, but only confirm that resistance is weakening.
If SOL fails to break above $143, the setup may flip back to risk-off. The recent bounce might thus lose credibility, and sellers will likely push the price toward the $130 area
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP Expands to Solana as wXRP Drives DeFi Access
Key Insights
Wrapped XRP on Solana surpasses 834,000 tokens, enabling new DeFi access while strengthening cross-chain liquidity and expanding XRP utility beyond its native ledger.
Ethereum and Solana dominate DeFi activity, while XRP Ledger trails significantly, driving the need for
CryptoNewsLand5h ago
Solana Holds $87 Support as ETF Inflows Top $22M
Key Insights
Solana ETF inflows reached $22.14 million this week, signaling sustained institutional accumulation and reinforcing short-term support above the 50-day EMA level.
Futures open interest climbed to $5.53 billion, highlighting increased retail participation and growing
CryptoNewsLand6h ago
GSR Launches Multi-Asset Crypto ETF with Bitcoin, Ethereum, and Solana Exposure
Gate News message, April 22 — GSR has entered the exchange-traded fund market with the launch of Core3, a multi-asset crypto ETF trading under ticker BESO on Nasdaq. The fund combines exposure to Bitcoin, Ethereum, and Solana, three assets representing distinct but complementary roles in the crypto
GateNews9h ago
Coinbase Report: Algorand, Aptos Lead Quantum-Ready Blockchain Readiness
Coinbase's Independent Advisory Board on Quantum Computing and Blockchain has found that most major crypto networks are poorly prepared for the threat that powerful quantum computers could pose to their security in the coming years, according to a new report. The board identified Algorand and Aptos
CryptoFrontier18h ago
Gate launches the "Compute Power Goes Ballistic" campaign: complete tasks to unlock mystery boxes and win a Mac Studio M3 Ultra; USDT wealth management offers 6% APY; BTC/ETH/SOL staking up to 16% APY
Gate News message, according to the Gate official announcement on April 22, 2026, the platform has launched a "Compute Power Goes Ballistic" themed campaign.
During the campaign (from 14:00 on April 22 to 16:00 on April 26, UTC+8), users can complete multiple tasks to unlock the chance to open mystery boxes. Prizes include Mac Studio M3 Ultra, RTX 5090 GPU, XPIN tokens, lucky draw gift bags, and more, using a 100% guaranteed win model. The tasks cover multiple scenarios such as instant exchange trading, spot trading, derivatives trading, deposits, invitations, and VIP upgrades, with different tasks corresponding to different numbers of mystery box openings.
At the same time, the platform has introduced interim wealth-management products: USDT 14-day fixed-term wealth management with an annualized return of 6%. You can apply with a net deposit of ≥ 1,000 USDT, with a personal limit of 20,000 USDT. For on-chain earnings, staking BTC, ETH, and SOL can receive up to a 7.5% boost, with staked SOL reaching up to 16% annualized returns. In addition, new and existing users can also participate in multi-asset wealth-management products such as ETH, USDD, XAUT, AIA, SWCH, 0G, and APT, with some products offering annualized returns exceeding 100%.
GateAnnouncement18h ago
Solana's MAGA Meme Coin Hits $25M Market Cap, Surges 200% in 24 Hours
Gate News message, April 22 — Solana-based meme coin MAGA (Make Aliens Great Again) reached a peak market capitalization of $25 million today, marking an all-time high. The token is currently trading at $20 million with a 24-hour gain of 200% and trading volume of approximately $8.9 million.
The
GateNews20h ago
