Solana (SOL) Price Prediction: $120 Support Under Pressure as Bearish Bias Dominates

Solana is presently trading right around the $124 mark and is still moving in a sideways pattern across the lower timeframes. As we highlighted in our previous analysis, SOL remains stuck in an overall downtrend, though bulls are currently attempting to hold the $120 support firmly to generate some upside momentum. The broader market's inability to gain traction is clearly reflected in SOL's price action as well. After multiple decisive rejections from the $145 resistance, and with the price basing above the $120 support for a while now, we can expect the price to drop further in the coming weeks. With that in mind, let's now examine the latest Solana charts to see where the price could be headed in the coming weeks.

Our Solana Price Prediction Summary

• The price has been confined to a tight $120 to $140 consolidation range for one full month.
• Consistent failure to break the $145 resistance confirms a lack of buying momentum.
• The next major downside target following a $120 break is the $100 psychological level.

Analyzing the Charts

Consolidation Continues on 4H Chart

Looking at the latest 4-hour chart for Solana, the price action is clearly defined. We can see the price has been confined to a sustained sideways range, trading strictly between the $120 support and the $140 resistance. SOL has been held within this structure for a full month now, illustrating a definite lack of directional conviction from the market. Throughout this period, we have observed multiple efforts to break the $140 resistance. Each attempt to push higher has unfortunately resulted in a decisive rejection. This recurring failure clearly signals that there is insufficient buying momentum to initiate even a short-term trend reversal. Nevertheless, the firm defense of the $120 support by the bulls has established a crucial technical floor, granting the asset some necessary relief within this tight consolidation.

Daily Downtrend Still Intact

Now, switching our focus to the 1-day timeframe, we see a technical picture that has not fundamentally shifted. The price action here is characterized by continued horizontal movement, strictly adhering to the same bearish bias that has dominated since the significant drop in September. This long-term structure remains completely validated, strongly suggesting that we could soon witness another move towards the downside. With no major indicators signaling a reversal against this prevailing momentum, we are anticipating the loss of the $120 support in the near term. Should this breakdown occur, the next key level we will be watching is the $100 mark. This area is not only a major psychological hurdle but has also demonstrated strong historical significance as a major inflection point.

Weekly Picture for SOL

Lastly, on the 1-week timeframe, the outlook confirms that the price has been in a sustained correction phase, particularly since the breakdown below the major rising channel structure highlighted below. We can observe that the price has recently found a temporary floor near the $120 support. Crucially, this zone has provided reliable support for SOL on the weekly chart multiple times in the past. Given the current signals pointing toward a breach of this key level, we anticipate a further significant correction for SOL in the coming weeks. This current trend is precisely why our current Solana price prediction maintains a distinctly bearish bias.

Final Takeaway: What is Next for SOL?

The overriding message from our analysis across all timeframes is simply that the long-term bearish bias remains firmly in control of Solana's price action. We are currently seeing a temporary consolidation, but this is widely viewed as a pause before continuation, not a true reversal attempt. Structural weakness is clearly confirmed by the consistent failure to break the $145 resistance and the intact bearish structure from September. Therefore, the immediate focus is squarely on the $120 support level which is the asset's critical floor. A definitive break below $120 will validate all prevailing technical signals immediately putting the $100 psychological level into play. Until Solana can secure a convincing close back above $145 we must strongly anticipate further downside pressure.

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