Solana (SOL), one of the prominent cryptocurrencies in the market, has been on a roller - coaster ride recently. Amidst a broader market downturn, it has shown both resilience and the need for a significant upward push to reach higher levels.

## 📉 Recent Market Turmoil and SOL's Response
### A Sharp Drop and Recovery
Solana had a rough start on Monday. It plummeted 20% in 24 hours, hitting a 14 - month low. For the first time since February 2024, it briefly traded around the $95 level. But the cryptocurrency didn't stay down for long. It then surged almost 18% to $112 after the initial downturn, before retracing back into the $100 to $110 level. It's like a wild ride on a cryptocurrency - themed amusement park ride, with sudden drops and sharp recoveries. 🎢
### Past Performance and Current State
Last year, driven by the memecoin craze, Solana was one of the top - performing cryptocurrencies. It reached an all - time high (ATH) of $270 on January 19. However, since then, it has seen a significant decline. As of now, it's down 63% from those start - of - year highs. It's as if Solana was on top of the world and has now come crashing back down to earth. 🌍

## 🎯 Key Support Levels and Future Projections
### The $120 Support Zone
Solana has retested the $120 support zone multiple times during the Q1 retraces. This zone was a crucial level during the rallies in 2021 and 2024. Some experts have noticed a concerning trend though. With each retest, the support seems to be dropping. If Solana fails to hold this level, it could lead to a significant drop. In fact, it might plunge into the $100 mark and potentially face a 50% loss, reaching the $60 support zone. It's like walking on a tightrope, with the $120 level being a crucial balance point. 🧗‍♂️
### The Need for a 15% Rebound
Many experts believe that for Solana to move forward and reach higher levels, it needs to make a significant move. Specifically, it requires a 15% rebound toward the significant historical support at $120. Sjuul from AltCryptoGems emphasized that Solana has to "give a clear bounce and reclaim the $120 level" now that "liquidity is taken." Failure to do so could mean another decline is on the cards. Similarly, Ali Martinez pointed out that according to the weekly chart, Solana's TD Sequential is showing a buy signal. But for a rally toward $147 to materialize, SOL "needs to stay above $95 and break $121." It's like Solana is at a crossroads, and a 15% upward leap could be the key to unlocking a more bullish future. 🚀

*Disclaimer: The cryptocurrency market, including Solana, is highly volatile and speculative. The information provided in this article about Solana's price movements, support levels, and future projections is for general informational purposes only. There are no guarantees regarding the future price of Solana, the accuracy of price predictions, or the stability of the cryptocurrency market. The market is influenced by a wide range of factors, including regulatory changes, technological developments, and market sentiment. Before making any investment decisions related to Solana or any other cryptocurrency, you should conduct thorough research, consider your own financial situation and risk tolerance, and consult a qualified financial advisor. Cryptocurrency investments carry significant risks, including the potential loss of your entire investment.*

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