SOL on the Edge Again: Can $125 Hold or Is $112 Next?

• SOL keeps printing lower highs—downtrend still in full swing.
• Bulls bounced at $112, but the recent pullback puts that floor at risk again.
• Without a clean reclaim of $135–140, bears still have the upper hand.

Lower Highs and Lurking Trouble

The Solana latest chart isn’t what you’d call inspiring. After a pretty sharp rebound from $112 earlier in March, things looked like they were finally turning around—briefly. SOL pushed as high as $147. But just when it seemed ready to break out again, it tripped and fell back below $130. Classic fake-out.

The problem is clear as day: every new high is lower than the one before it. That pattern’s held strong ever since the peak at $295. SOL’s been stuck riding this downhill wave, with bounces fading faster each time. The $125–130 area is trying its best to hold, but it’s shaky now. And yeah, that’s got people nervous.

Bulls Showed Up, But Didn’t Stay Long

To be fair, buyers didn’t completely disappear after the $112 crash. That was a pretty aggressive bounce—over $30 in a flash. It showed there’s still some life left in the bulls. But the follow-through? Kinda meh. SOL climbed, hit resistance near $147, and got shoved right back down. It’s been that way for weeks now.

Right now, $123 is acting like a soft support. If that breaks, you know where this thing’s headed… right back to $112. That’s the line in the sand. Lose that and the whole bullish recovery idea just falls apart. On the flip side, reclaiming $135 could spark another try toward $150, but that’s a big if.

Stuck in a Mid-Range Loop

Technically speaking, SOL is bouncing between two zones—$112 below and $135 up top. It’s a choppy range, with price zigzagging and coiling up. This kind of sideways action is usually a setup for something bigger. The longer this tight channel holds, the stronger the next move is likely to be. And judging by the way those candles are shaping up, something’s probably brewing already.

Some hidden signals hint at a possible relief bounce if $123 holds up. But let’s be real—no one’s betting heavy just yet. Confidence is low, and momentum just ain’t there. If you’re a short-term trader, it’s a waiting game. If you’re long-term… well, you’ve probably seen worse.

Where Solana Came From

Solana was born out of California’s tech scene in 2020. Its creator, Anatoly Yakovenko, wanted to solve blockchain speed issues by combining Proof-of-History with Proof-of-Stake. That combo lets the network process thousands of transactions per second with dirt-cheap fees. It quickly became a go-to chain for NFTs and DeFi—although yeah, it’s had more than a few network hiccups along the way.