The crypto market is often likened to a stormy, challenging ocean, and Solana (SOL) has consistently been an asset that creates 'massive waves' sometimes soaring to breathtaking price peaks, and other times plummeting into deep corrective troughs. Today, November 25, 2025, upon reviewing the SOL chart, it is evident that following an electrifying upward rally earlier in the year, the price has now entered a phase of 'pullback' and is testing crucial support levels. Trading around $132.85, SOL is perched at a sensitive and critical juncture that will likely determine its next short-term directional move. The daily candle opened at $130.03 in the GMT timezone, but intense volatility swung the price to a high of $134.22 and a low of $130.69. The daily trading volume hums at approximately $5.91 billion, signaling middling but tense market activity where buyers and sellers are engaged in a hidden battle. But the strategic question is this: Is this successful support test merely a prelude to a 'powerful revival' and a fresh ascent, or a sign of the onset of a longer, steeper slide on the horizon? To begin the analysis, we must ground ourselves in the 'Market Data,' as this data acts as a reliable compass in the storm. Throughout November 2025, Solana has experienced a notable price decline, shedding over 50% from its peak price of $268.86 recorded in January. This drop has driven SOL toward touching vital Fibonacci Retracement levels. The 50% Retracement level, located precisely at $130, is a pivotal and key area; if this support level is decisively broken and the price consolidates below it, it could open the downside path toward $110. Compared to Ethereum, SOL has demonstrated a slightly more 'independent performance'; its correlation with Ethereum is about 0.80. This coefficient creates separate investment opportunities for those seeking diversification. Fundamentally, some analysts believe that with the launch of new Exchange-Traded Funds (ETFs) like Fidelity's FSOL, which has seen $100 million in 'Capital Inflows,' Solana is poised for a major leap. However, 'Token Unlocks' from Alameda Research holdings, amounting to 193,000 SOL worth roughly $30 million, continue to exert a constant selling pressure on the market. In technical analysis, support and resistance zones, which act as the invisible, commanding lines guiding the market's hidden battles, are more critical than ever. The primary strong support is located at $130. This area holds extraordinary significance because it marks the convergence of the 200-Day Simple Moving Average (SMA) a strong metric for gauging the long-term trend, situated near $135 with the floor of the Descending Channel pattern formed on the chart. Should this level break decisively, the next downside target will quickly be directed toward $123, a key psychological area recently dubbed the 'last bastion of defense' against deeper drops. Conversely, resistance awaits buyers at $134.22, where sellers have constructed a firm 'resistance wall.' Above this, the $145 level looms like an unconquerable fortress, piled with a massive concentration of sell orders. On the weekly chart, the Pivot Points indicate the first support (S1) at $127 and the first resistance (R1) at $140. These levels align with the emerging Bearish Flag pattern; this pattern is technically often indicative of the 'continuation of the downtrend,' unless a sudden and decisive surge in buying volume occurs. The technical indicators paint a story full of contradiction and struggle. The 14-Day Relative Strength Index (RSI) sits at 30.77, almost screaming 'Oversold,' which typically signals a potential bullish 'Bounce.' Recall how during the 'July Dip,' the price experienced a powerful jump after the RSI hit 30. However, in fierce downtrends, the RSI can remain low for extended periods without triggering a major price reversal. The Moving Average Convergence Divergence (MACD) is in negative (bearish) territory, and the recent 'Dead Cross' confirms the red histogram, indicating the dominant bearish momentum in the market. Nevertheless, a Bullish Divergence is observed on the weekly MACD, gently whispering that large buyers (Whales) might be 'accumulating assets;' this possibility is reinforced by the $336 million weekly ETF inflows. The Moving Averages, the veteran and constant advisors of the market, currently corral the price beneath their lines. The 50-Day Simple Moving Average (SMA) at $152 and the 100-Day Exponential Moving Average (EMA) at $165 function as 'resistance ceilings' that SOL has failed to decisively break above. The 200-Day Simple Moving Average (SMA), located just overhead at $135, marks a 'crucial test'; a price close above this level could flip the market signal to 'Bullish.' The Bollinger Bands are actively squeezing, with the lower band at $128 and the upper band at $140, indicating low volatility in the market this could be the 'calm before the storm' of a major move. The Average Directional Index (ADX) is reading 22, confirming the current downtrend strength, but has not yet reached strong or extreme levels. From the perspective of Chart Patterns, the daily chart sketches a Bearish Flag pattern since mid-November, with its 'Pole' drawn from $160 to $130. A decisive downside break of this pattern could activate the downside target of $110. However, some analysts on higher timeframes point to the Falling Wedge pattern, which is considered a strong Bullish Reversal pattern. Volume is the ultimate judge here; volume is currently middling, but a sudden and powerful 'Spike' upon hitting key supports would restore the power of the buyers (Bulls). The Fear & Greed Index is at 19 (Extreme Fear), which perfectly aligns with the current market sentiment 'excessive fear' often indicates the formation of a price floor. It is apt to view Solana in this light: SOL is akin to a 'skilled surfer'; it thrives on riding giant waves but learns and returns stronger from 'Wipeouts.' Novice traders might panic and sell their assets, but veteran holders know well that after every 'market winter,' a 'bullish spring' is on the way such as the 2024 surge that saw the price leap from $95 to $260. External 'Catalysts' like the Alpenglow consensus, which aims to reduce transaction 'Finality' time to 150 milliseconds, and the launch of new ETFs, are filling the 'bullish sails,' although 'Whale Sells' exert temporary downward pressure. Some market optimists believe that with ecosystem advancements, SOL has the potential to reach the $200 level by the end of December. Delving deeper into the analysis, the Fibonacci Extension drawn from the latest downward move indicates a downside target of $110 at the 161.8% level. While this target is 'daunting,' it is entirely 'reversible' if the $130 support holds firm. The Stochastic Oscillator is at 25, firmly in the 'Oversold' condition and actively preparing for a potential Bullish Crossover. A notable comparison to Bitcoin is that SOL is currently Underperforming relative to BTC, with a Beta coefficient of 1.3, indicating its volatility is higher than that of Bitcoin. A final, personal observation: In crypto markets, sometimes when the screen is blanketed in 'red,' it is precisely the opportune moment for 'Buying.' On November 25th, red prevails, but 'ETF Inflows' whisper that a 'Turnaround' is very near. The practical directive for traders is to cautiously set their protective Stop-Loss order near the $127 zone and closely monitor 'Volume' with sharp focus. Ultimately, this comprehensive analysis sketches a Bearish short-term view with strong potential for a 'Rebound.' For the December outlook, the decisive holding of the $130 level could guide the price toward the $175 to $200 targets; otherwise, the $120 support level will be seriously tested. The key actionable takeaway: Diversify your investment portfolio, conduct deep research, and never succumb to the 'Fear of Missing Out (FOMO).' Solana is a Resilient asset, but Patience reigns supreme for success.