Solana Could Drop To $118 Or Explode Higher

Solana (SOL) seems to have reached a decisive inflection point after weeks of grinding lower beneath a stubborn resistance trendline, getting repeatedly rejected on the 1-hour chart by a descending resistance line that has been in place since October.

Each attempt to push higher has failed at roughly the same angle, reinforcing the trendline as a key short-term barrier. According to the analysis by popular cryptocurrency expert Ali Martinez, the market is now approaching a moment where this structure is likely to resolve.

Price action currently shows Solana compressing just below resistance, a setup that often precedes either a sharp breakout or a renewed rejection. With volatility tightening, traders are watching closely for confirmation.

Two Scenarios: Rejection Or Breakout

Martinez outlines a clear two-path outcome. If Solana fails again at the trendline, downside pressure could accelerate, opening the door for a move back toward the $118 level, which previously acted as a liquidity pocket and short-term support zone. A rejection would reinforce the idea that sellers remain in control on lower timeframes.

However, the bullish case hinges on one specific signal: an hourly close above $128. If buyers manage to reclaim that level and break cleanly through the trendline, Martinez believes Solana could flip resistance into support and trigger a momentum-driven move toward $135.

That target aligns with prior horizontal resistance and would mark a meaningful short-term reversal after months of lower highs. Importantly, a confirmed breakout would also invalidate the current descending structure that has capped prices since October.

For the time being, the price of SOL stands at $125.02, recording a 1.13% drop in the last 24 hours, a decline of 2.57% across the previous seven days, and a 3.27% loss accumulated on its monthly chart, per the latest information.

In the meantime, Solana remains stuck between compression and decision. Whether SOL revisits lower support or launches higher will likely depend on how it reacts to this trendline in the coming sessions.

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