- Solana lost the $120–$130 accumulation zone that held firm for 7 months straight.
- $70–$80 region (previous all-time high zone) is now the make-or-break level for the bull case.
- Failure to hold $70 would confirm macro bear structure and target $30–$40.
The chart doesn’t lie, and right now it’s screaming distribution. After defending the $120–$130 rectangle for over seven months and using it as launchpad for every rally since March 2024, Solana has finally cracked. Yesterday’s decisive close below $120 on heavy volume confirmed what many feared: the 2024–2025 uptrend is in serious jeopardy.
This isn’t just another dip to buy. The $120 zone was the single most respected accumulation range of the entire cycle—multiple retests, higher lows, and strong bounces every time. Losing it on the weekly timeframe flips the macro structure from bullish to bearish until proven otherwise.
Next major demand sits at $70–$80, the previous all-time high zone from 2021 and the origin of the current multi-year breakout. History shows that when assets lose their multi-month base after an extended run, they almost always revisit the breakout level. If $70 fails to produce a violent reversal, the measured move from the broken rectangle points toward $30–$40—exactly where the pre-pump consolidation lived in 2023.On-chain signals are equally grim: exchange supply of SOL has spiked 18% in the past three weeks, staking ratio is dropping as holders unstake to sell, and the realized price of short-term holders now sits above spot—classic capitulation setup. The meme-coin driven euphoria that propelled Solana from $18 to $294 is unwinding fast. Many of the same voices calling for $500–$1,000 just weeks ago are suddenly silent or flipping bearish.
Bottom line: $70 is the line in the sand. A strong weekly close above $100 with volume could still salvage the bull case and keep the higher-timeframe trend intact. But another leg lower without defense at $70 will confirm the macro top is in and the bear market for SOL has officially begun. The next two weeks will decide whether 2025 becomes the year of Solana’s great reset.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
