$SOL Analysis

In terms of time frames, here’s a potential breakdown for Solana’s price action:

Short-term (1-2 weeks): If Solana fails to hold above the $128 support, it could quickly test the next levels around $118 and $109. Short-term price movement may be volatile, with strong downward pressure if the $128 level is not reclaimed.

Medium-term (1-2 months): If the price continues to struggle below $128, the focus will shift toward the major support at $98. A prolonged bearish trend could take several weeks to consolidate near these lower levels. During this period, the price may bounce between $109 and $118, but a significant test of $98 seems probable if the broader market remains weak.

Long-term (3-6 months): If Solana does reach the $98 support, it will be crucial to watch for a potential reversal or further breakdown. A continued bearish trend could indicate a longer period of consolidation, and further declines may test lower levels depending on market conditions, investor sentiment, and broader cryptocurrency trends.

In all, while there is significant short-term downside risk, the longer-term direction will depend on whether Solana can regain key support levels or whether it faces deeper corrections.