Overview
- SOL is trading in the low‑$120s as the $120 support remains the key line in the sand, with multiple analysts warning of a slide toward $110–$100 if it breaks.
- CoinGlass data highlight dense liquidation clusters around $121–$123 and $128.5–$133, with roughly $90 million in long positions cited as vulnerable.
- U.S. spot Solana ETFs continued to attract December inflows, signaling institutional accumulation despite price weakness and rangebound trading.
- On‑chain activity has softened, with Nansen reporting drops in transactions, active addresses and fees, and separate reports noting active users under one million in Q4.
- Liquidity supports include a record stablecoin supply near $16.4 billion on Solana and new Coinbase support for SOL deposits and withdrawals via the Base network.