Solana Tests Pivotal $120 Zone as Bulls Defend Key Support

Analysts say a high-volume reclaim of the Point of Control would confirm a bullish turn.

Overview

SOL is hovering around $118–$124 with repeated defenses near $124 suggesting tentative accumulation, though participation remains muted.
The $120–$123 band is identified as cycle-defining support that preserves the higher‑low structure if maintained.
A clean close back above the Point of Control on expanding volume is cited as the trigger for a rotation toward resistance near $167.
A decisive break below $120 could validate a deeper corrective phase, with some analysts mapping potential downside toward $50–$70 in 2026.
On higher timeframes, SOL remains in orderly consolidation after a peak near $233.8, and a multi‑year ascending trendline continues to support the longer‑term bullish case.