Solana Holds $120–$130 Support as Traders Weigh Breakdown Risk vs. $129 Reclaim

Overview

• SOL briefly tapped $129.3 before slipping back to roughly $123–$127, keeping the well-tested $120–$130 band in play.
• A daily close above $129 — with clearer follow-through over $140 on some timeframes — is cited as the trigger to revive momentum toward $150–$200.
• Analysts flag a weekly double top and head-and-shoulders setup, with breakdown levels at $120 and especially $105 that could open targets near $95 and potentially $75–$51.
• Network fundamentals have cooled, with TVL falling from about $35.1 billion to $23.8 billion, fees dropping from $31 million to $8 million, and weekly SOL ETF inflows sliding to roughly $13.1 million.
• Liquidity signals are mixed, with generally muted activity punctuated by a reported 24-hour volume surge to about $4.06 billion and a noted $43.1 million whale short reinforcing near-term downside risk.