The post Solana rejected at $178 resistance — can $105 support hold the Double Bottom? appeared on BitcoinEthereumNews.com.

Solana is testing a major resistance zone near $178, which has triggered multiple rejections. If price fails to break through, the path opens toward $105.89 — a level that may form a bullish double bottom if defended. Market structure and volume behavior suggest further downside is likely unless bulls reclaim control quickly. Solana (SOL) is currently trading below the $178 resistance, a level that aligns with both the value area high and a key high time frame supply zone. Since establishing the local swing high, price action has formed lower highs and lower lows — a bearish pattern signaling weakness. If this rejection holds, the next major area of interest sits around $105.89, where a structural double bottom could develop and signal a potential trend reversal. 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 SOL/USDT (1D) Chart, Source: TradingView 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…

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Filed under: News - @ July 2, 2025 2:29 am