A year after hitting its all-time high (ATH), Solana (SOL) is trading 54.3% below the 2025 $293 mark, trying to hold a crucial zone as support. Some analysts warned that the altcoin could risk a deeper correction if its price fails to recover recently lost ground.
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Solana breaks under the main support
On Sunday, Solana posted an 8% pullback to hit a two-week low of $130. Since breaking the $200 phycological barrier in late October, the cryptocurrency has struggled to maintain bullish momentum, fluctuating between the $115-$145 level over the past three months.
During the early-year rally, SOL broke out of its multi-month downtrend, reclaimed the upper zone of its local range and briefly broke above the key resistance at $145 last week. However, Sunday’s market pullback has dropped Solana back below key areas.
Amid this performance, market observer BitGuru said confirmed in an X analysis, the cryptocurrency “just swept liquidity into a strong demand zone after a clean structure breakdown.”
He explained that the price is trying to recover from its local support area, which could lead to a “sharp relief towards previous highs” if the price can hold current levels.
Meanwhile, Bitcoin analyst Man noted that the altcoin’s price broke below the two-week rising trendline, which supported the 17% increase from the yearly open. Moreover, the price also fell below the $136 mark, where the price had been continuously rising after the recent breakout.
The market observer pointed out that Solana’s short-term support is between $129 and $136, adding that a breach and sustained collapse from this area would spell trouble for the cryptocurrency.
According to the chart, if the selling pressure continues and Solana fails to regain the recently lost ground, the price could see a scenario where it retreats deeper and may fall up to 25% to challenge the $100 area.
Analysts warn of a head and shoulders pattern
Other market watchers pointed out a macro pattern on Solana’s chart, suggesting a breakout to new lows could be coming. Notably, the altcoin shows a two-year Head and Shoulders formation in the weekly time frame.
According to the chart, this bearish pattern has been forming since 2024, with the left shoulder developing during the rally in the first and second quarters of 2024 and the neckline being around $120.
Meanwhile, the upside of the pattern formed during the bullish run of late 2024 and early 2025, leading to the ATH of $293 a year ago. Finally, the right shoulder developed after the Q3 2025 rally and the Q4 correction.
Based on this performance, trader Slashology traded confirmed that Solana is “looking really bad here,” warning that investors should “prepare for the worst” as the price is trading near the pattern’s neckline.
He predicted that a breakdown of this key level could lead to a 35% to 40% “carnage” towards the $75-$80 level. On the contrary, market observer Crypto Curb suggested a different outcome would be possible.
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In an
For the analyst, the altcoin could see a similar performance if it recovers from current levels and starts climbing higher.
At the time of writing, Solana is trading at $134, down 5.6% in the daily time frame.
Featured image from Unsplash.com, chart from TradingView.com