Solana faces critical $120 support test

Solana (SOL)

is approaching a key technical level that could determine its short-term future. According to

, the token has fallen back to the $120 support range, a price that has served as both a floor and a ceiling multiple times this year. The crypto community is closely watching to see if buyers will step in—or if further losses are ahead.

As

explains, a bullish recovery could occur if SOL breaks through nearby resistance levels. However, failure to hold the $120 support could spark sell-offs that drag the token back toward $100. Momentum is weak, and Solana’s reaction at this price point will likely guide its trajectory for the rest of the month.

The $120 price point isn’t just a round number—it’s a critical psychological and historical support zone. As highlighted by

, SOL has bounced from this level multiple times, often triggering strong upward reversals. But in previous failures, breakdowns from this zone have led to accelerated losses and extended corrections that ripple across other

.

This level acts as a measuring stick for Solana’s short-term strength and overall investor confidence. Traders see it as a battleground between bulls trying to establish a floor and bears pushing for a deeper pullback.

Here’s why the $120 range matters:

With these factors in play, the $120 mark has become more than just a support—it’s a signal of how much conviction remains in Solana’s bullish narrative.

According to

, Solana may also face selling pressure as the FTX estate prepares to repay creditors, potentially unlocking $800M worth of SOL. The anticipated liquidation is keeping short-term traders cautious and limiting upward movement.

At the same time, broader macroeconomic concerns—like interest rate uncertainty and U.S.-China trade tensions—are weighing on crypto markets.

noted that Solana’s price dip also coincided with these external shocks, further complicating investor outlook.

Traders monitoring Solana’s $120 battle are closely analyzing a mix of technical and

that could hint at the token’s next move. While sentiment remains cautious, several signals could confirm either a breakdown or recovery in the coming days.

Here are the primary indicators drawing attention:

A bounce from $120 with strong volume and positive momentum indicators could validate bullish setups and target recovery zones near $135–$140. But if support cracks, technical targets as low as $98–$105 become likely, especially under macro pressure or broader altcoin weakness.

With volatile market conditions, having flexible trading tools is more important than ever.

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Solana holders can:

Check out the

to discover how to manage assets with confidence as Solana tests this critical support zone.

The coming days are crucial for Solana. A bounce from $120 could spark a fresh rally, while a breakdown might confirm bearish momentum. With key external risks and internal supply pressures mounting, SOL’s performance at this level could set the tone for Q2. Traders equipped with tools like Jumper Exchange will have more options to respond, whether the trend breaks down or reverses.