Solana (SOL) is undergoing a significant correction after failing to overcome the resistance level of $168 earlier this week. The impact from the overall market decline has caused SOL's price to drop by 15% from the monthly peak and is currently fluctuating around the $140 mark for three consecutive days.

📉 Recent Trading Situation

Since May, Solana has been trading in a price range between $145 and $180. However, strong fluctuations in June have pulled the price close to the bottom of this trading range. In particular, the average price range of $160-$170 has not been reclaimed since the beginning of the month.

Nevertheless, market analyst Lluciano believes that the current downtrend may continue a bit longer, but the long-term targets are extremely optimistic. According to him, after breaking through the downward resistance line since March, SOL has officially ended its long-term downtrend.

📊 Technical Structure: Short-Term Downward Wedge

After the initial breakout, SOL retested the demand zone of $100-$120 and then bounced back to the current price area. On the chart, SOL is forming a falling wedge pattern that has lasted for a month — a pattern often considered a bullish reversal signal.

The upper boundary of this pattern is in the range of $155-$160. If there is a breakout from this downward wedge, the analyst expects the price to head towards the resistance peak from May at $187, and further retest the peak at $240.

💬 Different Perspective: Bullish Signals from MA50

Trader Rose also holds a positive view as SOL is accumulating above the 50-day moving average (MA50) and the strong support area of $145. If a breakout confirmation occurs, the next price targets are $165, $183, and $220.

🧠 Reverse Scenario: Is the Downtrend Not Over?

Despite its potential for growth, some experts warn that SOL may not have completed its correction yet. The scenario mentioned is that SOL will break through the current price range and retreat to the accumulation zone from April around the $125-$135 mark. However, this could be the last retest before starting the final major uptrend of this cycle.

If this trajectory is correct, SOL's price will then surge above $200, with targets in the $220-$250 range before the cycle ends.

⚠️ Compared to Bitcoin: Is Strength Weakening?

One notable point is that SOL is retesting the support area from November 2023 compared to BTC, which marked the year's low. If this level cannot be maintained, Solana may weaken further in relative comparison to Bitcoin.

However, experts emphasize that the current cycle is not over yet, and SOL still has a chance to create a strong 'final wave' in the upcoming phase — if the support area around $130 is maintained and triggers new buying pressure.

🔎 Summary

✅ The technical pattern supports the possibility of a bullish reversal.

✅ The strong support zone of $130-$145 is holding well.

⚠️ Risks remain if the $130 area is lost, possibly retesting $125.

🎯 Long-term targets: $187, $220, and $240 if breakout is successful.

👉 Investors should observe price reactions around the $130-$145 mark — this will be a key point to determine whether Solana enters a new uptrend or continues deeper corrections in the short term.