Solana (SOL) Eyes Support Near $125 — Risk of Drop to $120–$122
Solana (SOL) traded at $126.61 on Jan 25 as intraday bearish pressure nudged the token lower by 0.54% versus the prior day. Hourly charts suggest local support around $125.98; a daily close away from that level could prompt a retest of resistance. On the larger time frame, SOL is approaching a nearby support at $124.67 — a confirmed breakout below that level may trigger a deeper decline toward the $120–$122 zone. Mid-term technicals show no clear reversal signals. Key points: SOL near-term support $125.98, larger-frame support $124.67, downside target $120–$122 if breakout occurs, current price $126.61, recent change -0.54%.
Bearish
The article highlights weakening near-term price action for SOL with small daily losses and multiple support levels immediately below the current price. Technical structure shows SOL approaching a key support at $124.67; a confirmed breakout under that level would likely accelerate selling toward $120–$122 — a clearly bearish scenario for short-term traders. Mid-term indicators show no reversal signals, which increases the probability that continued downside momentum could persist until clearer bullish confirmations appear (e.g., reclaimed resistance, bullish daily close, or volume-backed reversals). Historically, cryptocurrencies exhibiting failed support tests near tight ranges often see quick moves to the next structural support, amplifying volatility. Traders should watch daily closes around $125–$124, volume on any break, and broader market direction (BTC/crypto risk sentiment) to gauge whether the bearish bias will materialize or reverse.