Solana (SOL) is having a tough week. After failing to hold the crucial $125 level, the price has slipped back into the danger zone.
Following in the footsteps of Bitcoin and Ethereum, SOL took a dive, breaking through support levels at $122 and hitting a low of $112.
The Current Situation
Right now, Solana is trading below $120, and the bears (sellers) seem to be in control. The price is currently consolidating—meaning it’s taking a breather—but the charts show a clear "bearish trend line" forming. This creates a tough ceiling at $116.
The Battle Plan:
The Bullish Case (Hope for Recovery): For SOL to start climbing again, it needs to break through the immediate resistance at $116. If it can clear that and push past $122, we might see a rally back toward $132.
The Bearish Case (Risk of Drop): If buyers can’t defend the $112 floor, things could get ugly. A break below this level opens the door for a slide down to $105 or even $102.
Verdict: The market is weak. Unless $SOL reclaims $116 soon, the path of least resistance is downward.
