Overview
- Solana fell to an intraday low near $123 and is consolidating below $130, with resistance at $130–$136 and supports at $125, $122 and $120.
- A drop below $120 would likely expose $112 based on recent swing levels, while a recovery requires closes above $136 and $140 to target $145.
- Futures metrics turned risk-off, with open interest down to about $7 billion, funding negative at roughly -0.0055%, and long liquidations (~$31.9 million) dwarfing shorts.
- Network activity has cooled, with daily active addresses slipping to roughly 3–4 million and declines in DEX volumes and total value locked.
- Liquidity maps and trader commentary outline a conditional path to $145–$165 if the $130–$133 zone holds, while wider market weakness, including Bitcoin’s drop below $87,000, has added pressure.