Solana (SOL/USD) Bullish Recovery Rejected Near $125

Solana (SOL) Current Statistics

The current price: $124.42

Market Capitalization: $70 billion

Trading Volume: $4.4 billion

Major supply zones: $140, $145, $160

Major demand zones: $120, $115, $110

 

Solana (SOL) Price Analysis—January 26, 2026

Solana spent some time holding steady around the $125 price level, enduring immense selling pressure. Initially, expectations were that, given the resilience of bullish interest in this area, a bounce would be more likely. However, contrary to these expectations, the market broke down, and a new key support level formed as bulls regrouped around $119.

The breakdown from the $125 level occurred yesterday, and today bulls are attempting a rebound to reclaim this key price zone. So far, they have been unable to regain control, as price action met strong resistance around $124. This rejection below the former support suggests increased downside pressure, which may further test the newly established $119 support

SOL/USD Technical Indicators Outlook

The indicators are placing the market firmly in the sell zone, indicating that bears currently have the upper hand. A look at the Bollinger Bands and the RSI shows that price action, including the recent bullish recovery attempt, remains within bearish territory. Moreover, the failure of the rebound around the $124 level may further encourage selling pressure in the Solana market. At this point, bulls may be forced to retreat toward the key support level to defend it, as downside pressure could intensify following the inability to reclaim the critical $125 price level.

SOL/USD – 4 Hour Chart

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