Solana (SOL) is retesting a make-or-break area that could pave the way for a big move early next year. Some analysts have suggested that the altcoin’s charts suggest a bearish performance in the coming months.
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Solana faces rejection again from key resistance
After hitting a three-week high of $130 on Sunday, Solana started the week with a 6.1% correction to around $122. The cryptocurrency recently fell below macro support around $120, hitting an eight-month low of $116 in mid-December.
Since then, the altcoin has traded between $120 and $126. trying Although it repeatedly broke through local resistance, it was ultimately rejected on each retest.
SOL price rose about 5.6% during Sunday’s market-wide rally and attempted to build a foundation below key resistance levels before plummeting after a correction early Monday.
In this performance, market watcher Crypto Jobs said, pointed He announced that Solana has broken out of a six-week downside wedge and could target the $144-$146 area if momentum holds and price confirms a retest of the breakout.
However, the early decline of the week sent SOL briefly below the top of the pattern. Mann, a Bitcoin analyst, also emphasized that this virtual currency has the following characteristics: broken It is above the one-month downtrend line, suggesting an initial move towards the $129-$130 area.
“Holding above the broken trend line is key to maintaining upward momentum,” the analyst said, but noted that as long as prices remain below $146, a scenario where prices head toward another low, near the horizontal support at $100-$105, remains a likely scenario.
Following Monday’s denial, he affirmed “Wave 4 may already be complete. A decisive break below the trend line would further confirm this.”
Higher timeframe chart of SOL shows signs of trouble
Market watcher Elite Crypto asserted that Solana “doesn’t look very strong” at the higher end. time frameindicating that a multi-year bearish pattern could form on the SOL chart.
According to X analysis, the cryptocurrency has been developing a head-and-shoulders pattern since early 2024, with a weekly neckline around $105.
This char shows that the left shoulder formed during the rally in Q1 2024, and the head and right shoulder formed during the rally towards the highest high (ATH) in Q1 and Q3 2025, respectively.
“If $SOL loses the $105 support, the price could fall to the $75-$51 range and this phase could last until mid-2026,” the investor elaborated, adding, “After this period, the overall trend of SOL could turn bullish and prepare for a better move.”
Similarly, Henry of Lord of Alts proposed Rather than a head-and-shoulders pattern, Solana is in a double-top formation with the neckline set near the current level.
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According to the analyst, “With a clean double top and a reversal, the price is moving back toward the zone that previously served as substantial support.” If the altcoin fails to maintain its current support, the chart shows that its price could revert toward the $60 mark.
He added that there is a risk that SOL’s price could fall to around $35 in the coming months, as “there are significant gaps that the market has not yet addressed.”
Featured image from Unsplash.com, chart from TradingView.com
