Solana’s SOL token is holding firm at around $140.46, down 1.41% over the last 24 hours, after rebounding from a sharp 4.9% pullback that briefly dragged it to $135.96, according to CoinDesk Research’s technical model.

After the decline from $142.91, SOL has settled into a tight range between $140 and $142, with technical support emerging near $140.40. This stabilization could set the stage for an upside breakout—if price can push past local resistance.

Solana’s broader fundamentals remain strong, buoyed by the network’s growing ecosystem. The recent announcement of support for wrapped Bitcoin (WBTC) on Solana is seen as a bullish milestone. Still, analysts are split: some predict a rally toward $200, while others warn of a possible retest of the $123–$135 zone.

Technical Analysis Highlights

• SOL posted a 7.08-point range, falling from $142.91 to $135.96 before rebounding.
• Price has since formed a consolidation band between $140 and $142, with key support at $140.40.
• A quick surge between 14:32 and 14:37 lifted SOL from $140.48 to $141.40, but follow-through was weak.
• Sellers stepped in during the 15:10 candle, driving the price down to $140.29 amid elevated volume.
• A descending channel has developed, marked by lower highs and lows.
• Resistance at $142.65 has twice capped upward momentum, reinforcing short-term overhead pressure.

While technical patterns suggest near-term uncertainty, any sustained break above $142.65 could shift momentum back to the bulls. Until then, traders are watching the $140 level closely for signs of support or breakdown.