Solana ($SOL ) is showing early signs of a potential bullish reversal after defending a critical support zone around $120, which has proven to be a strong demand area multiple times in recent price action.
$120 – A Strong and Proven Support
The $120 level has acted as a major support for SOL, repeatedly absorbing selling pressure and preventing further downside. Each dip into this zone has been met with strong buying interest, indicating that large participants are actively defending this level. As long as price continues to hold above $120, the downside risk remains limited.
Trendline Break and Momentum Shift
After trading inside a descending channel for several weeks, SOL has recently shown signs of breaking above the local downtrend structure. This shift suggests that bearish momentum is weakening and buyers are starting to regain control. Short-term structure has already turned bullish with higher lows forming above the support base.
Key Resistance and Upside Potential
SOL previously faced strong rejection around the $130–132 resistance zone. If the market sentiment improves and Bitcoin manages to hold its key support levels, SOL could gain enough momentum to decisively break above this resistance.
A confirmed breakout andeclaim above this level would open the door for a continuation move toward the $138–140 range, which aligns with previous supply zones and liquidity targets.
Bitcoin’s Role in the Move
As always, Bitcoin remains the primary driver of overall market direction. If BTC maintains stability and avoids a major breakdown, altcoins like SOL are likely to outperform. In such a scenario, SOL could see accelerated bullish momentum as capital rotates back into high-beta assets.
Conclusion
As long as $120 support holds, the bullish case for Solana remains valid. A successful breakout above prior resistance could mark the beginning of a stronger recovery phase, with $138–140 acting as the next major upside target. Traders should continue to monitor Bitcoin’s price action and volume confirmation on SOL for further validation.