Solana on the Brink: Will $100 Be the Next Stop After Crucial Rejection?
A year after reaching its all-time high, Solana (SOL) finds itself at a precarious crossroads, desperately clinging to a critical support zone. Recent market movements and technical analyses suggest the popular altcoin is at significant risk of a deeper correction, with some experts forecasting a potential plunge towards the $100 mark if current levels fail to hold.
Mounting Pressure on Key Support
Solana's journey since its peak has been challenging. Trading a substantial 54.3% below its 2025 milestone of $293, the cryptocurrency recently experienced an 8% pullback, dipping to a two-week low of $130. For the past three months, SOL has struggled to sustain bullish momentum, oscillating within the $115-$145 range. Although it briefly broke above the $145 resistance last week, Sunday's market downturn quickly reversed these gains, pushing Solana back below several key areas. Market observer BitGuru highlighted a "clean structure breakdown" where liquidity was swept into a demand zone, suggesting a potential "sharp relief move" if local support can be maintained. However, other analysts remain cautious, noting that a sustained failure to reclaim lost ground could trigger a significant retrace.
Bearish Patterns Signal Deeper Correction
The outlook appears increasingly bearish as prominent technical patterns emerge on Solana's chart. Analyst Man of Bitcoin pointed out that SOL has fallen below its two-week ascending trendline, which previously underpinned a 17% surge from its yearly opening. Furthermore, the price dropped beneath the $136 level, a point that had previously offered consistent bounces post-breakout. Analysts are now closely watching the $129-$136 range as short-term support, warning that a decisive breach could spell serious trouble. Should selling pressure persist, Solana could face a 25% decline, challenging the psychological $100 barrier. Adding to the concern, a macro Head and Shoulders pattern has developed on Solana's weekly chart over the past two years, with its neckline positioned around the $120 area. This formation, characterized by a left shoulder in Q1-Q2 2024, a head during the late 2024/early 2025 bullish run to its $293 ATH, and a right shoulder following the Q3 2025 rally, signals impending downside. Trader Slashology explicitly warned that Solana is "really looking bad here," urging investors to "prepare for the worst" as the price hovers near this critical neckline. A breakdown from this level, according to Slashology, could precipitate a "bloodbath" with a 35%-40% drop towards the $75-$80 region. As of reporting, Solana is trading at $134, reflecting a 5.6% decline in the daily timeframe, intensifying the spotlight on these crucial support levels.
