Peter Smith
⬤ Solana is trading just below a key resistance level, with Friday's high around $125 now acting as a technical ceiling. The price has struggled to hold above this mark, showing that bulls are having trouble gaining traction. The chart reveals SOL continues to consolidate in this range, waiting for a clear signal that could confirm whether upside momentum is really building.
⬤ That $125 level has become the line in the sand for short-term traders. Every attempt to push higher has run into selling pressure near this price, which reinforces its importance. A clean break above $125 would likely "open the door" to test the next resistance sitting near $129, a zone that's acted as a reaction point before.
⬤ Right now, Solana looks range-bound beneath resistance while the market waits for direction. There's no sign of major volatility brewing beyond these levels, and the focus is squarely on whether SOL can reclaim $125 and follow through toward $129. Until that happens, the token appears stuck in a tight short-term band.
⬤ The bottom line: Solana's next move probably depends on how price handles the $125 barrier. A successful breakout could shift sentiment and set up a run toward $129, which would give bulls some breathing room. But if SOL keeps getting rejected below $125, expect the consolidation to drag on and sentiment to stay cautious.
Peter Smith
