Solana (SOL) has dropped to its lowest level since June 23, indicating clear stress across the market.
The drop reflects heavy selling pressure that has been building for days, and the chart now shows clear signs of weakness. Across several timeframes, indicators suggest stronger bearish momentum and a decline in buying interest. That mix raises the risk of more downside if sentiment doesn’t shift soon.
CoinGecko data shows that the Solana price is trading at approximately $125.32, up around 8% on the day.
It traded between $122.66 and $135.27, with spot volume topping $ 10.2 billion, showing that traders are still active around these levels.
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According to Coinglass data, Solana’s open interest is near $6.47Bn, and futures volume over the past day is at roughly $29.3Bn. The numbers indicate a crowded market with numerous leveraged positions still in play.
DeFi Llama reports Solana’s DeFi TVL at around $ 8.78 B, down -4.7% in a single day. DEXs handled approximately $ 3.32 billion in 24-hour volume, a sign that users are active but cautious as the market adjusts.
Taken together, the rebound in spot prices, the heavy futures open interest, and steady DeFi activity indicate that the market remains active.
However, the slight dip in TVL also suggests some rotation and profit-taking within the Solana ecosystem.
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Solana Price Prediction: What Happens If Solana Fails to Break Above Fresh Resistance?
Solana is now trading at a critical level after a sharp pullback pushed the market closer to key support.
The 4-hour chart shared by analyst Crypto Tony shows SOL trying to recover from a deep drop that sliced through the mid-$120 range earlier in the session.
The price has bounced slightly, moving toward the $128–$130 area. That zone is now the immediate barrier. A clear move above it would shift short-term sentiment, while another rejection could keep pressure on the downside.
The recent sessions show a pattern of lower highs and lower lows, highlighting steady selling and a decline in buyer strength. The break below $130 triggered a strong, fast move down, wiping out hours of sideways action in a single candle.
Long lower wicks near $123 indicate buyers stepped in, though the recovery so far is small compared to the speed of the decline.
The chart highlights a clear horizontal level around $130, which Crypto Tony referred to as the key line to watch. He summed it up simply: “$130 reclaim is bullish. Rejection and drop is a short position.”
That view matches the setup on the chart. Solana is pressing against an area that once acted as support and now sits as fresh resistance. A firm close back above $130 would suggest a short-term shift in momentum and could open the door toward the $134–$138 range.
But if SOL fails to move above that level, the broader downtrend stays in control. In that case, the price could slip back to $123, with $120 sitting as the next support zone.
The recent swings and repeated rejections indicate that the market remains under stress. And unless SOL can regain strength above $130, traders are likely to treat any bounce as another chance to short the move.
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The post Solana Price Prediction: Can SOL Reclaim the $130 Level and Break the Current Downtrend? appeared first on 99Bitcoins.
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