SOL remains inside an ascending wedge, with rising support near $115 and resistance extending toward the 128-130 region. RSI is heading towards oversold levels at 52, and the MACD is negative
Higher volumes have been seen with big rallies, but recent volume activity has been on a more even keel as price clears near rising support.
More Crypto Online identifies an ascending wedge forming on the daily chart. Two rising trendlines contain the recent price movement within narrowing boundaries. The structure developed after a strong advance from the low-$70s.
Source: X
The lower trendline has produced several higher lows since August. Price repeatedly recovered after approaching that rising support. Meanwhile, the upper boundary has limited advances near recent highs.
The strongest advance carried SOL from roughly $75 toward $105. Momentum then pushed higher toward $120 during subsequent weeks. Price later entered consolidation near the wedge's upper boundary.
The latest movement brought SOL closer to rising support. The chart shows approximately $115.15 after reaching nearly $116.75. This places price near an important structural boundary.
The top trendline is now pointing towards 128-130. Price action in recent times, however, waged the battle somewhere around the 120-123 zone. Some sideways candles appeared below that resistance level.
Source: Tradingview
Momentum is in the vicinity of neutral territory with RSI at around 51.97 at the moment. Previous readings peaked above 70 in the best gains. The following drop indicates a significant slowdown in momentum.
The chart also marks bearish RSI divergence near the September highs. Price continued advancing while RSI failed to match earlier momentum. That divergence preceded the current period of consolidation.
MACD provides another sign of reduced momentum. The MACD line sits around 3.52, against a signal line near 4.63. The histogram is negative at approximately -1.11.
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The longer volume chart shows several major activity expansions during strong price movements. The largest concentration appeared between July and September. During that period, SOL traded broadly between $200 and $280.
Source: Coinglass
Earlier rallies also produced noticeable volume increases across the displayed period. Those spikes accompanied rapid advances and sharp reversals. More recent activity has moderated as price moved toward lower levels.
Exchange data shows Binance leading open interest at approximately $1.18 billion. Gate follows with around $1.02 billion, while Bybit records approximately $769.57 million. CME and Hyperliquid show roughly $757.59 million and $662.75 million.
Trading volume remains concentrated across several major venues. Binance recorded approximately $2.42 billion, followed by OKX near $1 billion. MEXC and Bybit register approximately $883.45 million and $711.34 million.
Futures trade counts provide another measure of market activity. Binance is the top leader with around 2.48 million transactions, followed by BingX and OKX. The latest structure combines substantial participation with cooling momentum near rising support.
