Solana Price Prediction: SOL Defies Gravity at $120 Support as Momentum Signals Major Trend Reversal
Solana isn't just holding—it's building a fortress at the $120 level. After a brutal crypto winter, the network's resilience is sparking whispers of a comeback tour.
The Technical Turnaround
Forget the sideways chop. On-chain momentum metrics are flashing green. Trading volume surges, network activity climbs, and that stubborn $120 floor isn't budging. It's the kind of consolidation that precedes a leap, not a slump.
Beyond the Price Chart
This isn't just about technicals catching a bid. The Solana ecosystem keeps churning—DeFi TVL creeps upward, NFT volumes get a second wind, and developers aren't hitting the exits. Real utility, not just speculative fever, is propping up the foundation.
The Bull Case Gets Louder
A clean break above key resistance could open the floodgates. The path looks clearer with each hour SOL spends above that critical support. Short sellers are getting nervous, and the crowd that called it a 'broken chain' last year is suddenly a lot quieter.
The Finance World's Cynical Take
Of course, traditional finance pundits will call it a 'dead cat bounce' right up until their clients start demanding exposure—then it becomes a 'strategic digital asset allocation.' Some things never change.
The tide might finally be turning. Solana's holding the line, and the momentum shift is too pronounced to ignore. This could be the setup the bulls have been waiting for.
Solana price has been moving sideways for a while now, but the range is starting to tighten. Price is holding above key support, yet every push higher keeps getting sold. With momentum cooling and the chart compressing, solana price prediction is back in focus as market watchers wait to see which side finally takes control.
Short-Term Structure Remains Capped Below Descending Channel Resistance
On the daily timeframe, solana is attempting to break past the descending channel, a structure that has defined price action since the post-ATH correction. However, according to Nehal, as long as SOL remains below the upper channel resistance near $155–$160, upside moves should still be treated as corrective rather than impulsive.
Solana price trades below descending channel resistance NEAR $155–$160, keeping the short-term structure capped despite repeated support holds. Source: Nehal via X
Repeated rejections from this zone reinforce it as the key level bulls must reclaim to signal a shift in trend. Failure to break above this area keeps downside risk active towards the $120–$115 support region, which has acted as a short-term demand zone during recent pullbacks. A daily close above $160 WOULD be the first structural sign that sellers are losing control.
RSI and Momentum Echo Historical Oversold Conditions
Momentum indicators provide important context to the current consolidation. Immortal highlighted that during Solana’s capitulation low near $8, RSI printed around 28, marking extreme oversold conditions. In the most recent pullback, RSI once again dipped close to 30, suggesting selling pressure may be nearing exhaustion rather than accelerating.
Solana’s RSI drops back toward the 30 level, mirroring historically oversold conditions that previously marked selling exhaustion. Source: Immortal via X
Adding to this, That’s My Quant noted that Solana has been consolidating for over a year, with RSI spending extended time near historically undervalued zones. This behavior typically aligns more with accumulation phases than with early-stage bear market expansions, though confirmation is still required through price.
Solana continues a year-long consolidation, with RSI lingering near historically undervalued zones that often align with accumulation phases. Source: That’s My Quant via X
Weekly Support Zone Keeps Long-Term Bulls Engaged
Zooming out to the higher timeframe, Solana price is currently holding a major weekly support band between $110 and $125, an area that previously acted as a base before large upside expansions. Long-term participants are closely watching this zone, as sustained acceptance above it keeps the broader structure neutral-to-constructive rather than decisively bearish.
From a market structure perspective, as long as SOL does not lose the $110 weekly support, the probability of continued range development remains higher than that of a full trend breakdown. However, reclaiming $160, followed by a MOVE through the $180–$200 resistance cluster, would be necessary to re-establish a bullish higher-high sequence.
On-Chain Strength Adds a Contrasting Narrative
While price remains technically constrained, on-chain data paints a more constructive outlook. Crypto Chiefs highlighted that Solana currently leads application revenue among major chains, capturing a significant share relative to ethereum and others. This divergence between on-chain strength and price action often appears during late consolidation phases, though timing remains uncertain.
Solana leads application revenue among major blockchains, highlighting strong on-chain activity despite price remaining range-bound. Source: crypto Chiefs via X
Technical Structure Shaping Solana’s Next Move
Several technical signals are defining Solana’s current consolidation phase. On the daily chart, solana price is trading within a descending channel, with price repeatedly forming higher lows near the lower boundary, suggesting selling pressure is slowing.
Solana current price is $132.73, up 5.42% in the last 24 hours. Source: Brave New Coin
This compression indicates a market waiting for direction rather than trending impulsively.
Key levels to watch:
- Channel resistance: $155–$160
- Near-term upside zone: $180–$200 if a daily close above $160 holds
- Primary support: $120–$115
- Major weekly support: $110–$125
The structure remains neutral-to-bullish as long as SOL holds above weekly support. A clean breakout above the upper channel, ideally accompanied by rising volume, would signal a shift from corrective price action into trend recovery. Until then, rallies remain vulnerable to rejection, keeping SOL range-bound.
Momentum indicators such as RSI hovering near historically oversold zones further reinforce the idea that this is a compression and basing phase, not a momentum-driven breakdown.
Final Thoughts: Can Solana Price Reclaim Bullish Momentum?
Solana price is not in a confirmed uptrend yet, but it is also not breaking down. The market is compressing between weekly support at $110 to $125 and channel resistance at $155–$160, with momentum indicators suggesting downside pressure is slowing rather than accelerating.
A clean daily and weekly reclaim above $160 would significantly improve the bullish case and open Solana price prediction towards $180 to $200. Until then, SOL remains in a technically neutral consolidation phase, where patience and confirmation matter more than anticipation.
