Solana Price Pullback: Critical Support Zones to Watch at $118 and $109

Solana (SOL) has entered a corrective phase following its recent rally, with traders closely monitoring two pivotal support levels. As of April 2025, the $118 zone represents immediate support—a breach below this could trigger further downside toward the $109 level, which served as strong accumulation territory during Q1 2025. Market analysts note these technical levels coincide with the 50-day and 100-day moving averages respectively, creating confluence areas where buyers may step in. The correction comes amid broader crypto market consolidation, though Solana’s robust ecosystem activity continues to differentiate it from peers. On-chain data shows substantial bid liquidity clustered near these support levels, suggesting institutional interest remains intact despite short-term volatility.

Key Resistance and Support Levels

SOL price has recently formed a minor ascending wedge pattern, having the upper resistance at $139 and a lower trendline that has been tested and held consistently. However, as the price approaches the upper boundary of the wedge, it exhibits diminishing strength, suggesting an impending short-term pullback. This could be a healthy correction before the price resumes its bullish trend. The expected pullback should target the 0.618 Fibonacci retracement level at about $109, and the 0.382 level, about $118, acts as an immediate support zone.

The RSI shown below the price chart is yet another indication into the ongoing market momentum. The divergence in the RSI, with a lower high in the indicator while the price makes higher highs, shows passing strength in the bullish momentum. This bearish divergence indicates that the price may soon come under pressure to sell, triggering some anticipated pullback toward the support levels at $118 and $109. 

The Pullback and Potential Mid-Term Rally

In terms of market structure, the pullback toward the $118-$109 area is seen as a key area of the entry for long-term traders. The $109 level is particularly significant, as it coincides with the 0.618 Fibonacci retracement level, historically an area of strong price reversals. If SOL manages to bounce and stay above that level and form a higher low, it adds to the bullish narrative and potential targets back toward $139 resistance. 

That means this pullback is not a reversal but is simply a natural pause in the market to give traders an entry point before the next leg up. The mid-term outlook for SOL remains positive, with strong fundamentals for the growth of the network, along with increasing liquidity in the whole market. A hold above $118-$109 will signal a continuation of the bullish trend toward higher price levels, with targets in the $150-$160 range within a few months. 

Conclusion: A Healthy Correction For Solana Going Forward

Overall, Solana price movement is currently suggesting a short-term pullback to the $118-$109 zone, characterized by the historical presence of Fibonacci retracement levels, which is anticipated to set a higher low concerning market structure. A higher low would prove to be a strong entry point for longer-term traders.