Market Data Warns SOL Could Retest $120 as Selling Pressure Builds

[ed]

Solana’s brief outperformance on Thursday faded at the $140 resistance, where futures and spot data showed rising selling pressure. Open interest spiked near resistance, CVD fell across futures and spot markets, and elevated funding rates indicate crowded long positions. Analysts warn that unless SOL reclaims $140 quickly, momentum favors sellers — with $120 emerging as the next major downside target.

[Nahid Hossen]

SOL’s momentum is cooling — retesting $120 wouldn’t be surprising. ️

[JanEmil]

Will go below $100 I think

[Abdul Khan]

Short-term volatility, long-term upside — classic accumulation window.