Solana Anticipates Bullish Comeback Following Meteora’s Upbit Listing

CryptoDaily
SOL-2,36%
MET5,41%

Solana is attempting to recover from recent losses as momentum indicators begin to stabilize and Asia-based liquidity inflows strengthen. The token rebounded from deeply oversold conditions after testing a key Fibonacci support level, raising the possibility of a near-term trend reversal — but major technical hurdles remain.

Solana’s Technical Bounce Off Key Support Levels

Source: coinmarketcap

SOL’s 14-day relative strength index (RSI) dropped to 27.5, marking one of its most oversold readings of the quarter. The rebound was triggered as price reacted to the $127 Fibonacci support, an area that has historically served as a turning point during drawdowns.

The MACD histogram, now at –2.17, shows bearish momentum fading, indicating that selling pressure may be losing strength. Despite this, Solana remains below all key moving averages:

7-day SMA: $142.75

200-day SMA: $180.16

For traders watching for confirmation of a shift in trend, a decisive close above $145 — the 78.6% Fibonacci retracement level — is critical. Without such a breakout, the current rebound risks being interpreted as a relief bounce rather than the start of a broader recovery.

Meteora’s Upbit Listing Boosts Solana’s DeFi Footprint in Asia

Solana’s ecosystem received a notable catalyst on November 18, when Meteora ($MET2) — a Solana-based liquidity infrastructure protocol — launched on Upbit, South Korea’s largest cryptocurrency exchange. The listing includes KRW, BTC, and USDT trading pairs, immediately expanding Meteora’s accessibility to one of the world’s most active retail markets.

South Korea accounts for nearly 10% of global crypto trading volume, and Upbit’s dominance in the region gives listed assets a substantial visibility boost. Meteora’s entry into the Korean market could help draw new capital into Solana’s DeFi ecosystem, particularly given growing interest in high-efficiency liquidity protocols.

Meteora’s Dynamic Automated Market Maker (Dynamic AMM) technology — designed to optimize liquidity depth through adaptive pricing curves — has gained attention among DeFi participants seeking efficient trading routes and improved capital allocation

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Outlook

Solana’s rebound from oversold conditions offers a constructive signal, but technical confirmation remains essential. A close above $145 would validate the recovery attempt and potentially open the path toward retesting the $160–$170 range.

Meanwhile, Meteora’s debut on Upbit introduces a fresh source of demand from a region known for its rapid adoption cycles and retail-driven market structure. If capital begins to flow into Solana’s liquidity pools as a result, it may accelerate SOL’s attempt to reclaim higher levels — particularly if technical resistance breaks in tandem.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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