After forming a rounded top pattern on the daily chart, $SOL is currently testing the key support level of 126 USD, which often indicates a potential bearish reversal.

A break below this level could lead to further price declines to 85 USD, reflecting the measured move of this pattern. Technical indicators, including ADX and MACD, suggest that momentum is weakening, while reduced network activity (such as a decline in stablecoin market capitalization and fewer DeFi users) exacerbates bearish pressure.

However, if SOL reclaims 187 USD, the bearish outlook would be invalidated and could open the door to a move towards 200 USD. The current price action of SOL depends on the support level at 126 USD. Holding can stabilize the trend, while a break below may accelerate selling pressure. Market sentiment and BTC movements may play a key role in determining SOL's next move.

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