Date: Tue, Dec 16, 2025 | 05:54 AM GMT
The crypto market remains under heavy selling pressure.
Over the past 24 hours, total market capitalization has declined by 4.17%, fueling elevated volatility and triggering more than $650 million in liquidations. Long positions absorbed the majority of the damage as risk appetite faded across the board.
Against this backdrop, Solana $SOL has dropped over 4%, yet its daily chart is beginning to signal something important: selling momentum appears to be weakening, and a potential bullish reversal may be developing beneath the surface.
Source: CoinMarketCap
Is a Triple Bottom Forming?
On the daily timeframe, Solana is shaping a classic Triple Bottom pattern — a well-known bullish reversal structure that typically forms after sustained downside pressure.
Price has now tested the $121–$123 support zone three times, and each visit has been met with strong buying interest. This repeated defense highlights solid demand absorption, suggesting sellers are losing control despite multiple attempts to break the level.
Throughout this consolidation phase, SOL has continued to trade within a tightening range, respecting the support floor while failing to break decisively lower. The latest pullback mirrors earlier dips that resulted in sharp upside reactions.
This price behavior leans more toward accumulation rather than continuation, especially while broader market conditions remain weak.
Solana $SOL Daily Chart — TradingView
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Key Levels to Watch
If buyers successfully defend the $121–$123 support zone and price avoids a daily close below this range, the third structural low will be confirmed — completing the Triple Bottom formation.
In this scenario, Solana could rebound toward the $144.75 neckline resistance, offering approximately 14% upside from current levels.
A decisive breakout above the neckline, supported by expanding volume, would strengthen the bullish case further and potentially open the door for a move toward the $168.50 region.
Conversely, a confirmed daily close below $121 would invalidate the pattern and shift the bias back toward downside continuation.
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Bottom Line
Solana is currently at a critical technical inflection point.
The coming sessions will be decisive in determining whether this support level triggers a rebound or finally breaks under sustained pressure.
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Disclaimer:
This content is for informational purposes only and does not constitute financial advice. Cryptocurrency markets are highly volatile, and technical setups may fail. Always conduct your own research and manage risk appropriately.
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