Solana’s Critical Support at $120 - Will It Hold or Break?Solana has been respecting its $120 support level for over a year, consistently bouncing back every time it tested this zone. However, the price is now once again hovering around this crucial level after a small bounce a couple of weeks ago. The key question remains: will Solana hold this support and rally again, or is a major breakdown coming?
Weakening Support: A Bearish Signal?
When a price level is tested repeatedly, it often weakens as buyers at that level get exhausted. The most recent bounce from $120 was notably weak, indicating that buying pressure might be fading. This could be an early warning sign that sellers are gaining control, increasing the probability of a breakdown.
The $75 Scenario: What If Support Fails?
If Solana fails to hold $120, the next major support level sits around $75—a price zone where significant demand previously emerged. A breakdown could trigger a sharp move lower as stop-losses get triggered and bearish momentum accelerates.
Key Factors to Watch:
• Volume & Strength of the Current Test – Is buying volume picking up, or are sellers in control?
• Market Sentiment & Macro Trends – Broader crypto market trends, Bitcoin’s movement, and macroeconomic factors could influence Solana’s direction.
• False Breakouts & Traps – Sometimes, a brief break below support is a shakeout before a strong reversal. A reclaim of $120 after a breakdown could signal a bullish trap for shorts.
Final Thoughts
While $120 has been a strong floor for Solana, repeated tests make it more fragile. If buyers fail to step in with conviction, a drop toward $75 becomes a real possibility. However, if bulls defend this level strongly, we could see another bounce, potentially setting up a reversal.
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