Solana Stalls at $178 Resistance—Will the $105 Double Bottom Save the Day?

Solana hits a wall at $178—again. The crypto darling's latest rejection sparks déjà vu as traders eye the $105 support level like nervous parents watching a toddler wobble on a bike.

Double Bottom or Double Trouble?

The $105 zone now carries the weight of Solana's medium-term bullish case. A clean bounce here could set up a textbook reversal—but break it, and the 'Ethereum killer' narrative starts smelling like week-old sushi.

Meanwhile, Bitcoin maximalists smugly adjust their laser eyes while traditional finance bros 'accidentally' confuse SOL with the Solana Beach tourist board. The market never misses a chance to humble the overconfident.

Key technical points,

• $178 Resistance Rejection: Price faces high time frame resistance in confluence with the value area high
• Double Bottom Setup: Key support at $105.89 may provide reversal if tested and held
• Auction Rotation in Play: Backtest of value area high increases probability of rotation to value area low

The rejection from $178 continues to weigh on Solana’s price structure. Despite several pushes higher, buyers have failed to gain control above this resistance zone. The confluence of the value area high and high time frame resistance makes this region particularly significant, and failure to break above it has confirmed short-term bearish structure.

Price has now started to rotate lower, and from an auction theory perspective, the loss and backtest of the value area high suggests that the market may seek balance by moving toward the value area low. This WOULD bring price into the $105.89 zone — a high time frame support level that also represents a key structural low. A sweep of this area, followed by strong buyer response, could establish a double bottom pattern, often a reliable reversal signal.

Another concern for bulls is the local trend, which continues to form lower highs and lower lows beneath resistance. If price fails to reclaim lost levels soon, it increases the probability of continuation to the downside. Still, a test of $105.89 isn’t inherently bearish — it may instead offer a key pivot point for solana to reset and build strength for another move higher.

What to expect in the coming price action

As long as Solana trades below $178, the probability of further downside remains elevated. A move toward $105.89 is likely, and if this level holds, it could form a double bottom and launch a rotation back toward resistance.

Failure to defend this support, however, would confirm a breakdown and risk shifting the larger trend bearish. Watch for volume signals near the lows to confirm buyer interest.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.