Solana Tests Critical $120 Support While Analyst Track Risk of a Move Toward $70

Solana trades on a two-week support zone near $120, where previous resistance became a long-term base shaping current market structure trends.

A failed hold of the $120 support exposes a wide lower gap toward $70, with the chart lacking notable consolidation between both areas.

Traders expect stabilization above $120 to allow a structured rebound toward the mid-range zone near $165–$180 on upcoming sessions.

Solana $SOL must hold $120 to maintain its broader structure after the asset moved toward a major support area on the two-week chart. The level now guides market sentiment as traders assess whether momentum can stabilize above this zone.

Key Support Near $120 Shapes Market Structure

Solana $SOL trades directly on a multi-year horizontal support area tha5t has controlled price action during previous cycles. This zone near $120 once acted as resistance and later turned into a strong base during earlier expansions. Market watchers now observe how price interacts with this level during the current test.

In a recent post, trader Ali (@ali_charts) stated that Solana must protect this support to avoid pressure toward the next lower region. The chart shared in the post marks the current candle touching the support with clear warnings about the next possible target. The setup shows the market reacting to this shelf where major buyers were previously active.

Price movement since the peak near $240 formed a pattern that produced lower highs and a breakdown toward this anchor zone. The shift created a cautious tone around the market as each attempt to move into the mid-range near $180 failed. Traders now monitor whether a stable close above $120 can offer structure for recovery.

Market participants state that a hold above $120 keeps the asset within a controlled consolidation on the higher timeframe. A close below the level increases the chance of accelerated movement into the lower range defined on earlier charts.

Break Below $120 Opens Path Toward the $70 Area

Solana $SOL faces a clear downside gap between $120 and $70 on the long-term chart. The zone contains limited historical consolidation, creating a vacuum that often allows faster moves during periods of weakness. The next major horizontal support sits near $70–$75, according to the shared analysis.

The chart referenced in the trader’s post marks this lower region with an arrow indicating the distance between the two zones. Without structural support inside this area, traders consider the path vulnerable if the current level breaks. Such moves tend to appear strongly on the two-week timeframe due to larger candle ranges.

For bulls to counter current pressure, analysts observe the need for a stable close above $120 and the formation of a higher low in the coming sessions. This formation may allow price to move back toward the mid-range resistance near $165–$180. A return to that area could offer renewed structure for attempts toward the $200 region.

The broader reading of the chart positions $120 as the level dividing consolidation from a deeper trend shift. Above it, the market maintains controlled structure. Below it, the chart suggests an open path toward the $70 region, giving the support its current importance.

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