Date: Wed, Oct 22, 2025 | 06:40 AM GMT
The cryptocurrency market continues to display its characteristic volatility, with total 24-hour liquidations reaching $652 million. Of that, $352 million came from long positions while $300 million in shorts were wiped out — showing that traders on both sides are facing pressure amid the market’s choppy conditions.
Amid this turbulence, Solana (SOL) has slipped into red territory, retreating to around $184 after touching a 24-hour high of $197. Technical signals on the lower timeframe are now hinting at a potential short-term pullback before any new upside attempt.
Descending Triangle Pattern in Play?
On the 4-hour chart, SOL appears to be consolidating within a descending triangle pattern, a formation that typically suggests bearish continuation if the support base fails to hold.
The structure shows a series of lower highs, indicating growing selling pressure, pressing down against a horizontal support level. The most recent rejection from the descending trendline near $197.71 has driven prices lower toward $184.37, where sellers seem to be gaining control.
What’s Next for SOL?
If downside pressure continues, a break below the $182.78 support range could push SOL toward its next key zone near $174, representing roughly a 5% decline from current levels. Such a move would align with the lower boundary of the descending triangle and could put additional strain on the broader altcoin market.
However, if bulls successfully defend the $182.78 support zone, SOL could continue consolidating before attempting another breakout toward the descending trendline. A confirmed breakout above that level would invalidate the bearish setup and potentially reignite bullish momentum toward higher targets.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
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