- Solana (SOL) has dropped nearly 10% in a week, falling to $129 amid strong selling pressure reflected by bearish indicators like the CMF (-0.13) and Elder-Ray Index (-20.74).
- If bulls fail to reclaim the $130 support, SOL could slide further to $123, while recovery above $134 may open the path to $142.59.
Bearish Indicators Mount as Price Slips Below Key Support
Solana (SOL), the once high-flying Ethereum rival, finds itself on shaky ground as Q2 2025 nears its end. After a near 10% drop in the past week, SOL has tumbled to $129, with bearish momentum strengthening amid global market turbulence and escalating US-Iran tensions. Now, the big question looms—can SOL hold the critical $130 support line, or is a dip to $123 imminent?
Bearish Pressure Deepens as Key Metrics Turn Red
Solana’s downtrend has been backed by stark technical indicators. The Chaikin Money Flow (CMF), a tool used to track capital inflows and outflows, currently sits at -0.13. This negative reading signals persistent selling pressure, as more money flows out of SOL than into it. With investors pulling back, bullish sentiment appears to be evaporating fast.
Adding to the grim outlook is the Elder-Ray Index, which stands at a bearish -20.74. This metric evaluates the balance of power between buyers and sellers. A deeply negative reading suggests that sellers are firmly in control, with SOL’s price repeatedly falling below its moving average.
Critical Levels to Watch: $130, $123, and $142
Solana ability to hold the $130 line could determine its short-term trajectory. If it fails, bears may drag the token down to the next significant support zone around $123.49—a level that would further erase recent gains and dent investor confidence.
However, there’s still a glimmer of hope. Should bulls regain momentum and push the price above $134, the next key target lies at $142.59. Breaking this resistance could signal a reversal, restoring upward momentum as Q3 approaches.
As the quarter winds down, all eyes are on Solana’s $130 threshold. With technical indicators flashing red and market sentiment fragile, SOL is walking a tightrope. Will the bulls rally in time, or are deeper losses on the horizon? The next few days may be crucial in determining the altcoin’s short-term f
