Solana Price Weakens as Market Turns Bearish—Will the $165 Zone Trigger a Rebound?

Sellers are tightening their grip on the crypto market following a bearish monthly close. Bitcoin price fell below $107,500 and broke through a key support level around $108,000, while Solana price fell to $176, losing October’s solid base between $178 and $180. A weak start to November made traders cautious, with SOL prices down more than 8% amid light trading volume and weakening bullish momentum.

The market capitalization of cryptocurrencies also declined as traders booked profits following the recent rally. With this pullback, Solana has officially entered a weekly downtrend, and if the selling pressure continues, the token could soon revisit the key demand zone around $165. This zone has historically served as a strong rebound area and could prevent further declines and prompt a fresh move towards the $200 resistance in the coming sessions.

What’s next for Solana (SOL) price increase?

Solana’s price action entered a decisive phase as the token consolidated around $187 following a sharp decline from recent highs. The chart reveals a clear structure below the high, indicating bearish momentum is building after repeated rejections around $240. With the recent breakdown below $180, SOL is testing a key midrange support level and traders are wary of the possibility of a deeper correction. Overall market sentiment appears to be cautious, suggesting that volatility could intensify if Solana fails to regain the $200 resistance level soon.

A chart shared by popular analyst Ali shows Solana’s multi-month range between $100 and $260, highlighting the possibility of a downtrend if the support at $158 to $165 fails to hold. The dotted forecast suggests a possible short-term bounce towards $200 before the downtrend continues, potentially dragging SOL into the $130-$100 zone by early 2026. This setup implies a downside high structure consistent with bearish continuation unless buyers decisively break out of $200, which could reestablish bullish strength and challenge the upside resistance near $240.

summary!

Bitcoin’s drop below $108,000 continues to weigh on altcoins, with traders remaining cautious amid the general crypto market weakness. A recovery of BTC above $110,000 could provide much-needed momentum to Solana’s recovery and restore confidence among the bulls. Until then, SOL is likely to continue consolidating within a narrow range, waiting for a clear breakout signal.

Solana’s short-term outlook remains bearish, but its long-term fundamentals continue to offer hope for a rebound. The $165 demand zone is important in determining the next big move. A break above this zone could reignite buying pressure and set the stage for a retest of $200. However, if market sentiment worsens and BTC remains depressed, SOL could face further decline before a sustainable recovery emerges.