Solana (SOL) is retesting a make-or-break area that could set the stage for a major move at the start of next year. Some analysts have suggested that altcoin\u2019s chart signals a bearish performance for the coming months.<\/p>\n
After hitting a three-week high of $130 on Sunday, Solana started the week with a 6.1% correction to the $122 area. The cryptocurrency recently breached below its macro support around the $120 zone, hitting an eight-month low of $116 in mid-December.<\/p>\n
Since then, the altcoin has been trading between the $120-$126 mark, attempting<\/a> to break out of the local resistance multiple times but ultimately being rejected after each retest.<\/p>\n SOL\u2019s price surged around 5.6% toward during Sunday\u2019s broader market bounce, trying to build a base below the crucial resistance level before plunging after the early Monday correction.<\/p>\n Amid this performance, market observer Crypto Jobs pointed<\/a> out that Solana had broken out of a six-week falling wedge, which could target the $144-$146 area if momentum holds and price confirms a retest of the breakout.<\/p>\n However, the star-of-week pullback has momentarily sent SOL below the pattern\u2019s upper boundary. Analyst Man of Bitcoin also highlighted that the cryptocurrency had broken<\/a> above a one-month downtrend line, which suggested an initial move toward the $129-$130 area.<\/p>\n The analyst explained that \u201cholding above the broken trendline is key to maintaining upside momentum,\u201d but noted that as long as the price remains below $146, a scenario where price is headed for one more low, around the $100-105 horizontal support, remains likely.<\/p>\n Following the Monday rejection, he affirmed<\/a> that \u201cit could be that wave-4 is already complete. A decisive break below the trendline would confirm this further.\u201d<\/p>\n Market watcher Elite Crypto affirmed that Solana \u201cdoesn\u2019t look very strong\u201d on the higher timeframe<\/a>, pointing to a multi-year bearish pattern potentially forming on SOL\u2019s chart.<\/p>\n According to X analysis, the cryptocurrency has been developing a Head and Shoulder pattern since early 2024, with the neckline sitting around the $105 area in the weekly timeframe.<\/p>\n The char shows that left shoulder formed during the Q1 2024 rally, while the head and right shoulder formed during its rally to its latest all-time high (ATH) in Q1 and Q3 2025 breakouts, respectively.<\/p>\n \u201cIf $SOL loses the $105 support then the price could move down to the $75\u2013$51 range and this phase may last until mid 2026,\u201d the investor detailed, adding that \u201cafter this period, the overall trend for SOL can turn bullish and set up a better move ahead.\u201d<\/p>\nSOL\u2019s Higher Timeframe Chart Shows Troubling Signs<\/h2>\n