Solana Price Analysis: Bearish Divergence at $146 Resistance Level
Solana’s recent price action is showing early warning signs after failing to reclaim resistance in the upper $146 area. While price has attempted to push higher, the momentum beneath the surface is beginning to weaken and the chart is now showing a clear bearish divergence, a classic reversal signal that often appears near major resistance zones. This divergence is a key indicator that the bullish force is fading, even as the price attempts to extend.
A bearish divergence occurs when the price shows a higher high while momentum indicators such as the RSI show a lower high (or value), signaling that upward momentum is driven by fewer participants or when buyers lose steam as they approach a key supply area. In the case of Solana, this divergence clearly formed near the $146 resistance zone, which is a crucial level from a market structure perspective.
Key Technical Points and Resistance Levels
Solana is capped below the $146 resistance level, and the price showed a bearish divergence, indicating weakening momentum. The fact that Solana was unable to reclaim the $146 mark and is seeing divergence at this level reinforces the bearish arguments. This suggests that the market is struggling to maintain continuity and sellers are likely to defend the high of the range.
SOLUSDT (4H) chart, source: TradingView
Impact of Bearish Divergence on Price Movement
The bearish divergence at $146 increases the likelihood of a pullback towards the support levels below. If Solana loses the Point of Control (POC) on a closing basis, it would solidify the notion that buyers are losing control and that the market is moving from range resistance into lower range rotation. The POC represents the price level at which the greatest volume was traded within the range and often acts as a central equilibrium point.
A break below the POC would confirm that the value is shifting lower and would strengthen the bearish divergence signal. This would increase the probability of a deeper corrective move towards the support at $117, which coincides with the lower boundary of the broader trading range. This level represents the next area where demand is expected to increase and where the market may attempt to stabilize.
Conclusion and Future Price Development
In the short term, Solana’s bearish divergence at $146 suggests that bullish momentum is fading and the risk of rejection is increasing. If SOL stays below the resistance level in the range and falls below the control point, the probability of a deeper corrective move towards the support at $117 increases. For more information and the latest updates on Solana’s price movement, visit https://crypto.news/solana-price-shows-bearish-divergence-at-146-as-breakdown-risk-builds/
