Solana's recent performance can be described as a "tug-of-war between bulls and bears." Going into late 2025 and early 2026, the SOL price has been oscillating between several key technical levels. The current focus is on whether the $129 level can hold.

From the daily chart, SOL is stuck at the end of a triangle consolidation, with two strong indicators overhead—the 20-day moving average (128.18 USD) and the 50-day moving average (135.91 USD). The resistance zone formed by these two lines is significant. Even more intense is the heatmap of costs, where the $123 to $124 range has accumulated a large amount of historically trapped positions, forming a solid resistance wall. Once the price can break through $129 with increased volume, it could not only relieve selling pressure here but also trigger short covering and technical buying, potentially testing $150 and even $171.

However, the support below should not be underestimated. The $116 to $118 zone has been tested multiple times and has proven its strength. If this line is broken, it would mean breaking the seasonal pattern of "decline in December and rebound in January," possibly leading to a slide down to the psychological level of $100.

On the indicator side, things look a bit weak. The MACD histogram is clustered below the zero line, with the DIF and DEA lines closely aligned, indicating that both bulls and bears are somewhat exhausted. The RSI (Relative Strength Index) also does not provide a clear signal. The overall situation is just waiting for a definitive confirmation of the next direction.