Solana [SOL] has sunk toward the $100 support zone after failing to breach the $150 supply zone.<\/p>\n
The bulls had been trying to climb past this resistance since mid-November, but the recent market-wide selling sent the altcoin lower.<\/p>\n
Source: SOL\/USDT on TradingView<\/p>\n<\/div>\n
SOL has a bearish bias on the weekly chart. After the strong performance toward the end of 2024, it saw a bearish structure break in April 2025.<\/p>\n
The rejection in September 2025 at the 78.6% retracement level at $252.9 proved that the structure break in April was not a liquidity sweep but a true trend shift.<\/p>\n
At the time of writing, it appeared highly likely that SOL would fall below the $95 swing low from April 2025.<\/p>\n
The bullish arguments for Solana<\/h2>\n
Recently, AMBCrypto explored the possibility<\/a> of a Solana<\/a> rally toward $300. This was deemed unlikely until the bulls reclaimed the key supply zone at $150.<\/p>\n Another report<\/a> highlighted that prediction sites such as Kalshi were pessimistic about SOL rallying toward ambitious targets such as $450.<\/p>\n For those with a longer investment horizon, the $1,000 price target was perfectly feasible. VanEck modeled a bullish scenario<\/a> that presented a price target of $3,200 for SOL by 2029.<\/p>\n News that the network experienced increased on-chain activity was also welcome. It is possible this could make SOL more attractive as an investment, as speculation is converted into tangible economic value<\/a>.<\/p>\nTraders\u2019 call to action \u2013 Sell the bounce<\/h2>\n
![\"Solana](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/02\/Solana-1-week-Chart.png\")