Solana Price Prediction: SOL Defends $120 as Oversold Signals and Analyst Setups Hint at Rally to Range Highs

Solana digs in at a critical level—traders are watching for the bounce.

Oversold Territory, Bullish Signals

Technical indicators are flashing oversold for SOL after its recent consolidation. That doesn't guarantee a reversal, but it sets the stage for one. Analysts point to specific chart patterns suggesting the path of least resistance could now be up, targeting the upper bounds of its current trading range. The $120 zone has transformed from a resistance wall into a support floor—for now.

The Setup for a Move

Market structure is key. Holding above the range lows is the first bullish checkpoint. A sustained break below would invalidate the optimistic setup and likely trigger another leg down. But the combination of oversold conditions and a successful defense of support creates a classic springboard scenario. Momentum traders are waiting for the confirmation candle.

Remember, in crypto, 'oversold' can always become 'more oversold'—until it suddenly isn't. It's the market's favorite trick, right after convincing you that 'this time it's different.' Watch for volume to confirm any move toward those range highs. The next few closes will tell the tale.

Solana price is trading NEAR the $120–$126 region, an area increasingly viewed by market participants as a pivotal demand zone after weeks of corrective price action.

As broader crypto markets remain choppy, attention has shifted toward Solana’s structural positioning, where a combination of technical compression, historical oversold conditions, and improving network fundamentals are shaping expectations for a potential rebound.

Solana price is currently trading around $125, according to pricing data from Brave New Coin. Despite remaining well below its cycle highs, SOL continues to hold above its recent range lows, keeping the short-term structure intact.

Solana current price is $125.69, down -0.23% in the last 24 hours. Source: Brave New Coin

$120 Emerges as a Key Support Zone

Crypto analyst Lucky described the current area as a favorable accumulation zone, stating that “$SOL at $120 is a good deal,” a view grounded in higher-timeframe structure rather than short-term volatility.

From a technical perspective, SOL has retraced into a long-standing demand region that previously acted as a launchpad for upside expansions. The broader channel structure suggests that price has now reached the lower boundary of a declining corrective range, increasing the probability of at least a mean-reversion move.

Solana’s price holds near the $120 demand zone. Source: Lucky via X

While this does not guarantee an immediate trend reversal, such range-low interactions have historically offered favorable risk-to-reward dynamics when momentum stabilizes.

Stablecoin Supply Growth Adds Fundamental Support

Beyond price action, on-chain data continues to support Solana’s long-term narrative. According to reporting shared by Cointelegraph, Solana’s stablecoin supply recently reached a new all-time high of approximately $16.44 billion.

Solana’s stablecoin supply climbs to a new all-time high near $16.4B, signaling growing on-chain liquidity and capital readiness across the ecosystem. Source: Cointelegraph via X

Rising stablecoin liquidity is often interpreted as a sign of increasing capital readiness within an ecosystem. While stablecoin inflows do not directly translate to price appreciation, they tend to precede higher on-chain activity and improved trading depth.

For Solana, this expanding liquidity base provides a supportive backdrop as price attempts to stabilize near structural support.

Network Revenue Growth Keeps Long-Term Bias Intact

Adding to the bullish fundamental outlook, Coin Bureau highlighted that Solana is on track to surpass ethereum in annual revenue for the first time.

Solana’s network revenue continues to surge, with year-to-date figures nearing $1.4B and positioning the network to overtake Ethereum in annual revenue for the first time. Source: Coin Bureau via X

Data shared by the firm shows Solana’s year-to-date revenue approaching $1.4 billion, nearly three times that of Ethereum over the same period. This shift reflects sustained demand for block space, transaction throughput, and application usage on the network.

From a market-structure perspective, rising revenue often strengthens long-term valuation arguments, particularly when price remains suppressed relative to fundamentals.

Oversold Conditions Signal Selling Pressure Is Fading

Technical exhaustion signals are also beginning to emerge. Analyst CryptoCurb pointed out that solana has only reached comparable oversold RSI levels three times in recent years: during the 2023 bear-market lows, the April 2025 bottom, and now.

Such oversold conditions do not mark exact bottoms, but they frequently coincide with zones where downside momentum weakens and volatility compresses. Historically, similar setups have preceded multi-week relief rallies rather than immediate parabolic moves.

Solana’s RSI has slipped into rare oversold territory, a level previously seen only near major market lows, hinting that selling pressure may be fading. Source: CryptoCurb via X

This reinforces the idea that SOL may be entering a stabilization phase rather than continuing a sharp directional decline.

Solana’s Short-term Upside Scenario

Rounding out the technical picture, analyst Heisenberg emphasized that Solana is currently trading near range lows, with range highs remaining the logical upside target if support holds.

Solana trades near range lows with analysts pointing to a potential MOVE back towards range highs if the $120 support continues to hold. Source: Heisenberg via X

This range-bound framework aligns with broader market behavior, where assets often oscillate between well-defined liquidity zones before a larger trend resumes. As long as SOL maintains acceptance above the $120 region, the path towards reclaiming higher resistance levels remains technically viable.

However, failure to hold this range could expose deeper downside zones, making confirmation critical before stronger bullish conclusions are drawn.

Solana Price Predictions and Outlook

Short-term Solana price projections remain mixed and highly dependent on confirmation levels. A sustained hold above $120, followed by a break above the $135–$140 region, would strengthen the case for a move towards range highs near $160–$180.

On the downside, a decisive loss of $120 could open the door toward lower demand zones near $105–$100, areas that previously attracted strong buyer interest.

Longer-term forecasts vary widely. Some market participants continue to model scenarios where Solana revisits its previous highs in a favorable macro and liquidity environment, particularly if network usage and revenue trends persist. However, such outcomes remain speculative and contingent on broader market conditions.

Final Thoughts

Solana is currently positioned at a technically and fundamentally significant juncture. Price is holding near established range lows, momentum indicators suggest exhaustion rather than expansion, and on-chain data continues to reflect growing ecosystem strength.

For now, the $120 level remains the key line in the sand. Whether SOL transitions into a broader recovery or remains range-bound will depend on how price reacts to this zone in the coming sessions.

Until then, market participants remain focused on confirmation rather than anticipation, as Solana navigates what could become an important inflection point in its current cycle.