NewsBTC
Jan 30, 2026
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BEARISH 📉 : Solana struggles below $120 amid continued price decline

Solana Price Analysis

  • Solana's price fell below $125, continuing its decline under $120 and $115.
  • SOL is trading below $120 and the 100-hour simple moving average.
  • A bearish trend line with resistance at $116 is forming on the SOL/USD hourly chart.
  • Support levels at $112 and $105 could be critical for a recovery wave.

Solana recently dipped below key support levels at $125 and $122, similar to movements in Bitcoin and Ethereum. The price has consolidated after reaching a low of $112 and is showing minor recovery towards the 23.6% Fib retracement level from $128 to $112.

Solana Price

Resistance levels are near $116 and $120, with major resistance at $122. A break above these could lead to gains up to $132.

Potential Decline Risks

  • If SOL doesn't rise past $116, further declines are possible.
  • Initial support is around $114, with major support at $112.
  • A drop below $112 might see prices fall to the $105 support zone, with a potential further decline to $102.

Technical Indicators

  • The hourly MACD for SOL/USD is weakening in the bearish zone.
  • The RSI is below 50, indicating bearish momentum.
  • Major support at $112 and $105; major resistance at $116 and $120.