Solana Flashes Warning Signal as Breakdown Threat Grows

Solana (SOL) is entering a high-stakes momentum on its chart, sitting directly above a support zone that has repeatedly acted as a springboard for bullish momentum. But this time, the cushion is thinner, and one wrong move could send the market into a fast downward reset.

Specifically, Solana must hold the $124 level to avoid triggering a deeper slide, according to an analysis shared by renowned cryptocurrency trading expert Ali Martinez in an X post on December 8.

In his view, a breakdown would open the door to $115, a zone where prior liquidity pockets formed. If selling accelerates through that line as well, he notes the next meaningful support sits all the way down near $106.

Market Searching for Direction

Solana has been one of the most volatile top-cap assets of the past two months, surging on network strength and ecosystem growth before retracing sharply as broader crypto momentum cooled. 

The chart now reflects that indecision with repeated failed attempts to reclaim higher levels and increasingly narrow bounces off support. This structure leaves Solana in a position where a sudden move could reshape short-term sentiment across the entire altcoin market.

Why This Level Matters

The $124 region aligns with a multi-day demand zone where SOL previously absorbed aggressive sell pressure. If buyers can’t reassert control here, the market may shift into a liquidation-driven sweep that hunts deeper resting bids, hence the $115 and $106 targets.

Conversely, a strong defense at $124 would keep Solana inside its broader consolidation range, preserving the possibility of an upside reversal once liquidity returns.

At the moment, SOL is changing hands at the price of $138.73, indicating a gain of 4.69% in the last 24 hours and growing 9.27% across the previous seven days, as it puts behind the 13.75% losses accumulated on its monthly chart, per the latest data.

With volatility tightening and major catalysts on the horizon, Solana’s ability or failure to hold this level could shape its trajectory for the remainder of the month.

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