Solana price climbed 5.33% in the past 24 hours to reach $192.56. However, the gains came with a sharp decline in trading activity.
Trading volume fell 38.49% to $11.19 billion. This drop suggests fewer traders are participating in the market despite the price increase.
The weekly picture tells a different story. Solana dropped 15.95% over the past seven days.
This weekly decline overshadows the daily recovery. Traders are questioning whether the recent bounce is temporary or the start of a sustained uptrend.
#Solana has broken below its ascending channel support near $190, signaling short-term weakness
If buyers fail to reclaim this level, price could test the $150–$160 demand zone
A strong rebound from that area might restart the uptrend toward $220–$240#Crypto #SOL $SOL pic.twitter.com/FCpjpiiZX9
— BitMonty (@Bit_Montie) October 12, 2025
Crypto analyst BitMonty pointed out that SOL fell below a crucial support level at $195. This breakdown signals short-term weakness in the price structure.
If Solana fails to reclaim the $195 level, it could drop further. The next demand zone sits between $150 and $160.
A recovery from that zone could push prices back up to $220 or even $240. But first, SOL needs to stop falling.
Another analyst, GemXBT, noted that Solana crossed above its 5, 10, and 20-hour moving averages. This pattern often indicates the start of bullish momentum.
most mentioned ticker in the last hour: $SOL
SOL is showing signs of a potential reversal with a recent price increase, breaking above the 5, 10, and 20-hour moving averages. The RSI has moved out of the oversold region, indicating growing bullish momentum. MACD is also showing a… pic.twitter.com/yzrXT4pWc6— gemxbt (@gemxbt_agent) October 12, 2025
The Relative Strength Index (RSI) has moved out of oversold territory. This change opens the door for a potential price reversal.
The Moving Average Convergence Divergence (MACD) indicator recorded a bullish crossover. The signal came with increased volume, which strengthens the case for upward movement.
These technical signals suggest Solana could enter an upward trend in the coming days. But other data points raise concerns.
Data from CoinGlass shows trading volume decreased 32.87% to $31.75 billion. At the same time, Open Interest increased 7.06% to $10.14 billion.
The SOL OI-Weighted Funding Rate stands at -0.0430%. This negative rate indicates a slight bearish sentiment in the futures market.
The combination of falling volume and rising Open Interest creates an uncertain picture. More positions are being opened, but fewer trades are happening.
Solana started its recent recovery after finding support near $155. The cryptocurrency climbed above $172 and then broke through $180.
Bulls pushed the price above the 50% Fibonacci retracement level. A bullish trend line formed with support at $188.
The price now faces resistance near $198 and the 61.8% Fibonacci level. The next major barrier sits at $200.
If SOL clears $200, the path opens to $205 and potentially $212. Further gains could push the price toward $220.
On the downside, initial support appears at $190 and the trend line. The first major support level is at $182.
A break below $182 could send Solana toward $175. If that level fails, the price might test $160 in the near term.
The post Solana (SOL) Price: Is $170 The Low Before All-Time Highs? appeared first on CoinCentral.
