- Solana (SOL) price traded to around $122 on December 24, 2025.
- Fresh losses pushed SOL near the critical $120 mark.
- Waning investor confidence and macroeconomic headwinds see the altcoin at risk of further declines.
Solana has extended its downturn in the final weeks of 2025, dipping below the $130 mark and testing levels around $120.
On Wednesday, prices fell to these lows across major exchanges, and more declines could allow bears to test recent lows of $116.
The $120 zone has acted as intermittent support throughout the year.
But as this decline aligns with a wider cryptocurrency market retracement amid reduced liquidity and profit-taking, SOL looks set for more pain.
In the past year, Solana has underperformed both Bitcoin and Ethereum, with SOL down 38% in the period compared to 11% and 16% for BTC and ETH.
Solana price prediction: is $100 next?
Technical analysis suggests that Solana faces a critical juncture.
Charts show mounting evidence of a bearish breakdown that could propel prices toward $100 or lower in the near term.
A key concern is SOL’s position relative to its 50-day exponential moving average (EMA), currently estimated around $160-$165 based on recent data.
The price trading well below this level signals a loss of short-term momentum and reinforces a downtrend, as the 50-day EMA has acted as dynamic resistance in recent months.
Further supporting the bearish outlook are momentum indicators.
The Relative Strength Index (RSI) hovers in the low 30s to upper 30s across daily and weekly timeframes, approaching oversold territory but not yet indicating a definitive reversal.
In technical analysis, this suggests room for additional downside before exhaustion sets in.
Meanwhile, the Moving Average Convergence Divergence (MACD) histogram shows negative values, with the MACD line below its signal line, confirming weakening bullish momentum and persistent selling dominance.
Chart patterns add to the cautionary narrative.
Solana is testing a weekly neckline support around $120. A decisive break below this could accelerate declines toward deeper supports in $100-$90 region.
What’s bullish for Solana?
Despite these challenges, Solana’s ecosystem fundamentals remain robust.
The network has processed billions of transactions in 2025, maintaining its reputation for high throughput and low fees.
Institutional milestones, including the launch of US spot SOL ETFs and integrations with traditional finance platforms, have provided some counterbalance.
Solana spot ETFs recorded inflows on December 23, even as Bitcoin and Ethereum continued outflow streaks.
While volumes are modest compared to earlier in the month, cumulative net inflows have climbed to over $754 million. That’s bullish for SOL.
However, if institutional interest wavers further, short-term technical indicators align with a broader downtrend.
