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Solana Holds $129.33 Support as Price Drops 15.1% and RSI Shows Bullish Divergence

Solana Holds $129.33 Support as Price Drops 15.1% and RSI Shows Bullish Divergence

CryptonewslandCryptonewsland2025/11/20 21:57
By:by Francis E
  • Solana fell 15.1 percent this week to $137.72, rounding off its corrective structure as it stalls around the support at $129.33.
  • The price is still within the tight range of $129.33 support and 140.23 resistance, after experiencing a long-term downtrend.
  • Bullish divergence in the RSI manifests where the asset is traded at 0.001509 BTC indicating a 1.9 percentage change in the BTC pairing.

Recent price action of Solana reveals some significant change in the price movement of the asset due to the steep fall in the price over the week, and the asset is trading around its support level. It is currently trading at $137.72 and this represents a 15.1 percent decline in price in the last seven days. The chart shows that despite the downward trend, Solana has recently been through a full corrective structure, and the trend is showing the direction of the last leg of the mentioned cycle.

This structural completion, combined with observed bullish divergence on the RSI, has drawn increased attention toward the support region now forming around $129.33. The move occurs as the asset trades between this support and the upper boundary of $140.23, creating a clearly defined short-term range.

Key Levels Holds as Corrective Wave Structure Concludes

The price action highlights a completed corrective sequence marked by labeled waves, which frame the broader market context. Solana moved through this structure while trending lower within a descending channel. However, the decline slowed near the current support. 

This area now anchors the recent low, which sits just above the Fibonacci region shown on the chart. Furthermore, the support level at $129.33 has remained intact despite sustained pressure. This transition leads into the next consideration, which involves price behavior within the immediate range.

The downside is done for now. #SOL has completed its correction imo (with reasonable confidence)
Full EW cycle
Bullish Divergence pic.twitter.com/N4jSeecQIB

— Matthew Dixon – Veteran Financial Trader (@mdtrade) November 18, 2025

Solana is currently trading within a tight range between the said support and the resistance ceiling of the figure of $140.23. The price has sampled the lower limit a number of times without falling below it. In the meantime, efforts to advance upwards have stagnated into the resistance. Such containment implies a volatility suspension. Solana is also traded at 0.001509 BTC in the market, which is a 1.9 percent change in the pairing. This number provides a new point of reference to traders in cross-market behavior. These circumstances result in the following part, in which another context is given in terms of readings of RSI.

RSI Shows Bullish Divergence as Selling Momentum Slows

The RSI indicator on the four-hour chart displays bullish divergence, which developed as price formed lower lows while RSI formed higher lows. This divergence introduces an additional technical element within the current range. It also aligns with the noted slowdown in downward momentum near support, creating a defined setup as Solana continues to trade between $129.33 and $140.23.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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