Solana Holds Near $120 Support as Risk of Drop to $50 Looms

⬤ Solana (SOL) is hanging around the $120 to $123 zone right now, and this area has become pretty important on the 3-day chart. The price is hugging a long-term rising trend line that goes all the way back to 2023. This zone has worked as a floor during past pullbacks, so traders are watching closely to see if SOL can hold above it and keep the bigger uptrend alive.

⬤ Looking at the chart, you can see several times when Solana dipped down toward this rising support line before bouncing back up. That’s why the $120 to $123 area matters so much now. SOL was trading near $180 not long ago before losing steam and pulling back into early 2025. The question everyone’s asking is whether Solana can keep making higher lows along this ascending line or if something’s about to give.

⬤ If things go south and SOL breaks below the trend line and that $120 support, the chart is pointing toward some scary downside levels—around $50 and potentially even $25. These aren’t guaranteed targets, but they show just how far SOL could fall if the long-term support crumbles. The whole technical picture basically comes down to one simple question: can Solana defend this multi-year support base, or are we heading into a deeper correction?

⬤ This matters because Solana is one of the biggest names in crypto, so what happens with SOL tends to influence how people feel about the broader market. If it holds above $120, that could help calm nerves across the digital asset space. But if it breaks down, we might see renewed concerns about volatility spreading through the market. Right now, SOL is sitting right at this crucial threshold, and all eyes are on how price behaves around that long-term rising support line.