- SOL/BTC briefly broke its descending trendline, signaling a potential reversal, with traders monitoring volume for confirmation of sustained bullish momentum.
- Solana’s $121–$126 support has stabilized prices intraday, forming a possible reaccumulation zone as broader downtrend pressure eases.
- New Solana ETFs and improving TVL suggest growing institutional and DeFi participation, supporting potential upside if broader market conditions improve.
Solana is attempting to steady after recent downside pressure, with traders monitoring technical levels and liquidity zones as market conditions shift. The asset is reacting at a major support area while showing renewed activity across several market metrics.
Solana Trend Reversal Attempts on BTC Trading Pair
Solana saw renewed attention after analyst Daan Crypto Trades shared a chart showing the SOL/BTC pair testing a descending trendline on the four-hour timeframe. Price briefly pushed above the line, but the move still requires confirmation through a full candle close.
This area has acted as a strong resistance through November.The chart also showed a surge in green volume, one of the strongest spikes during the period.
This indicated firm participation behind the recent move instead of short-lived action. Traders are watching whether this volume continues as Solana attempts to break its pattern of lower highs.
If the breakout attempt fails, Daan noted the pair could revisit support around 0.00145–0.00147 BTC. This zone has repeatedly served as a reaction point in previous sessions and remains the closest area for potential retests.
Solana Price Reacts as Downtrend Persists
A separate chart on the SOL/USDT pair showed Solana reacting at the $121–$126 support area. This level has served as a base for multiple rallies over the past year.
The asset has been in a corrective trend since losing the $150–$160 mid-range zone in October.Solana is now attempting to stabilize with early intraday improvements forming above support.
These small reactions have cooled bearish momentum, although the broader structure remains within a downward phase. A return above the mid-range is needed before any market shift can be considered.
A sustained close below $121 would open room for further downside toward the psychological $100 zone. For now, traders continue to classify the current band as a potential reaccumulation region, supported by historical reactions.
Solana ETF and TVL Trends Gain Attention
Market watcher Ted commented that Solana has been among the weaker large caps recently, clearing much of its downside liquidity. He noted that liquidity pockets now sit around $170–$200, creating room for a rebound if broader conditions improve.
Meanwhile, Coin Bureau reported that new Solana ETFs from Fidelity and Canary launched on major U.S. exchanges. Fidelity’s FSOL recorded over $2 million in first-day inflows, contributing to a combined $420.4 million for all U.S. Solana ETFs.
DeFiLlama data showed Solana’s Total Value Locked recovering through 2023 and expanding into 2024 and 2025 after the sector’s earlier collapse. TVL approached the $13–$14 billion range during its recent peak, supported by renewed development and extended participation across protocols.
