$120 Wall Hits Solana – Crash or Epic Comeback?

Solana (SOL) is approaching a defining moment on its long-term chart, testing the trend near the critical inflection point at $120.

Specifically, according to an analysis shared by popular cryptocurrency market analyst Ali Martinez on January 21, SOL is now testing a rising trendline that has guided price action since early 2024, placing the token at a key inflection point around the $120 level.

The zone has acted as structural support throughout Solana’s multi-month uptrend. Now, with price hovering just above it, traders are watching closely to see whether SOL holds the line or breaks down into a deeper correction.

A Make-Or-Break Moment For Solana’s Uptrend

The 3-day chart highlights a clean ascending trendline that has connected every major higher low since SOL bottomed near $10 in early 2024. 

Each time Solana touched the trendline, buyers stepped in aggressively, driving the price back toward the $200-$260 zone. That pattern has repeated multiple times until now.

SOL is once again retesting the same structural support, but this time with broader market volatility increasing and risk appetite cooling across the crypto industry. Technically, this puts Solana at a true inflection point. 

Either it holds $120, and the uptrend remains intact, opening the door for a push back toward $180, $220, and potentially $260, or it loses $120 and the long-term trend breaks, exposing downside toward $75 and even the $50 region.

This is the backbone of Solana’s entire bull structure, as opposed to being just another support test.

Why This Level Matters So Much

Trendline support on higher timeframes carries far more weight than short-term moving averages or intraday levels. 

A sustained breakdown below a multi-year rising structure often signals distribution replacing accumulation, momentum flipping bearish, and a transition from trend to range or downtrend.

On the flip side, strong defense of this level would reinforce Solana’s position as one of the strongest large-cap altcoins of the current cycle.

For the time being, the price of Solana stands at $126.70, recording a decline of 1.9% in the last 24 hours, dipping 11.8% across the previous seven days, and losing 0.3% over the past month, per the latest crypto charts.

What Traders Are Watching Next

For bulls, the key is a clean bounce and reclaim of short-term resistance near $140-$150. That would confirm the trendline is still respected. For bears, a decisive close below $120 on the 3-day timeframe would be the first major structural breakdown since the bull run began.

All things considered, Solana is being tested in addition to just pulling back. The $120 level now separates trend continuation from trend failure, and whichever side wins will likely control SOL’s direction for months to come.

Solana Price Today

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