Saad Ullah
⬤ Solana slipped to around $123.80 during the latest trading session, extending losses from earlier in the week. The drop came after price got rejected at higher levels, with sellers pushing SOL back toward the bottom of its recent trading range. The move reinforces growing caution around where the market's headed next.
⬤ Charts show Solana couldn't hold above the $132-134 resistance zone, leading to a steady pullback. Price has now settled below $125, which is becoming a key level to watch in the short term. The decline looks more like a controlled drift lower rather than a panic selloff, typical of how markets digest recent volatility.
⬤ The focus right now is on smart trade management rather than forcing aggressive bets, especially since these intraday drops can see quick bounces even when the overall trend is weakening.
⬤ What makes this interesting is that Solana keeps failing at higher prices, suggesting real downside pressure is building. Swing traders are positioning for a bigger move lower over the next few weeks, with targets sitting well below current levels. If this bearish momentum holds, it could ripple through the broader altcoin market, especially as SOL approaches major psychological price points that often trigger bigger volatility swings.
Saad Ullah
