Solana Price Pulls Back to Key Support Zone After Failing at $125

Solana (SOL) has pulled back from its recent high of $125 after failing to hold above that level. The price now trades near $118, testing a crucial support zone.

The trendline that had been supporting SOL's climb from around $96 has been broken, indicating weaker short-term momentum. Analyst Jesse Peralta noted that this trendline was turned into resistance after being broken, making it harder for the price to rebound.

Analyst Sweep expects a short pullback before another push higher, potentially towards $150. SOL's stablecoin supply has grown past $17 billion, a new high, and Solana ETFs have bought 2.32 million SOL over the past two weeks, worth about $278 million.