Solana Price Prediction: Bearish Pressure Persists Unless SOL Reclaims $120

Solana faces renewed downside pressure as analysts point to weakening structure and rising bearish risks. The asset trades near $83 after losing momentum from higher levels. Price action now reflects hesitation from buyers and increasing control from sellers. Moreover, repeated failures near resistance zones continue to limit bullish recovery attempts. Consequently, market participants are watching key levels closely as volatility builds. The current structure suggests that a decisive move could define Solana’s next major trend direction. Bearish Structure Builds Below Resistance Crypto Tony, recent analysis highlights a fragile short-term structure, with Solana struggling below the $85–$88 resistance range. Lower highs continue to form, which signals fading bullish strength. Additionally, rejection near $90 reinforced the presence of strong selling pressure. Price now hovers just above the critical $80 support level. A breakdown below this zone could accelerate losses toward $75 and possibly $70. Besides, market behavior suggests that bulls have delayed their response at crucial levels. This hesitation increases the likelihood of sharper downside expansion. Momentum indicators also align with a continuation of the bearish phase. Unless buyers reclaim $88 quickly, the path of least resistance remains downward. Key Retest Zone Defines Trend Direction Mister Crypto shifts attention to a broader technical structure on higher timeframes. He identifies a clear head and shoulders pattern, which often signals trend reversals. The neckline, positioned between $110 and $120, previously served as strong support. Source: X However, price has already broken below this level, confirming a bearish shift. A retest of this zone may occur, but resistance likely emerges there. Consequently, rejection at this level could push price lower again. Downside targets include $80 and possibly $60 if weakness continues. On the other hand, a strong reclaim above $120 would invalidate this bearish outlook. Such a move would shift sentiment and restore bullish momentum. Until then, the neckline remains the defining level for trend direction. Long-Term Accumulation Still in Play Despite near-term weakness, Crypto Patel offers a broader perspective, focusing on long-term accumulation potential. He notes that Solana has transitioned from a downtrend into a wide consolidation range. Price recently lost strength near the $120 to $140 resistance zone. It now compresses below $100, with that level acting as immediate resistance. Significantly, the $80 region aligns with a key Fibonacci support level. Deeper demand zones sit between $70 and $50, which may attract long-term buyers. A move into this range could represent a liquidity sweep before a larger expansion. Additionally, sustained accumulation within these zones could support future upside targets. Some projections place long-term potential as high as $500 or even $1,000. However, price must first reclaim and hold above $100 to confirm strength.