🚨 $SOL Solana Price: Could It Dip to $120? Are We Seeing the Return of the Bear Market? 👀

The Solana ( $SOL ) price has been on a downward trend for the past 7 days, dropping 12% this week alone. But don’t be fooled — it’s not a quick crash. Instead, we’re witnessing a gradual, slow decline that’s forming a pattern known as a “rounding top.” And for bulls, that’s usually a red flag.

So, what’s happening here?

Well, traders aren’t exactly rushing to sell. But this steady, slow sell-off means there’s no fresh liquidity for bulls to catch a bounce. In contrast to a sharp crash, this slow decline doesn’t offer an easy rebound.

From its high of $206 to the current support level of $159, Solana has taken a 22% hit. If it drops below that $159 support (which is only about 2.45% lower than where it is today), the next stop could be $120.

When might this happen?

It could unfold over the weekend. Why? Because weekend markets tend to be more unpredictable and often lean toward bearish behavior.

Could $SOL really crash to $120?

If the bears maintain control, it’s definitely possible. Some analysts predict SOL might reach that $120 mark before the month ends.

But wait — there’s a twist:

There’s still a glimmer of hope for a comeback. The Awesome Oscillator (AO) is showing a few green bars, even though it’s still in the negative zone. This suggests that sellers might be running out of steam. However, for this to signal a real bullish reversal, those green bars need to cross above zero. We’re not there yet.

So, what’s the takeaway?

The market is at a critical point. Will Solana rebound, or is it headed for deeper losses? Keep your eyes on the charts — this one’s going to be interesting.

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