Based on Blockchainreporter, Solana (SOL) is near a declining resistance trendline that could determine its direction. SOL is trading at $119-120 on December 22, 2025, 52% below its November 2024 peak of $264. The price has been forming lower highs, indicating bearish momentum. A break above $134-135 is needed to show strength, while support is seen at $120, $112, and possibly $100-90. On-chain data shows a whale recently bought $5 million worth of SOL, and institutional interest has increased, with Bitwise’s Solana ETF seeing 33 consecutive days of inflows. Solana’s DeFi ecosystem has a total value locked of $8.6 to $8.98 billion, and daily DEX volumes often exceed $6 billion. Despite the bearish technical outlook, the network’s fundamentals remain strong.
Solana Faces Critical Resistance as Technical Chart Reveals Key Decision Point
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Summary
Solana (SOL) is testing a key support & resistance level as the price hovers near a descending trendline. On December 22, 2025, SOL trades at $119-120, 52% below its November 2024 high of $264. The asset is forming lower highs, signaling bearish momentum. A move above $134-135 would confirm strength, while support & resistance levels are seen at $120, $112, and $100-90. Recent on-chain data shows a whale purchased $5 million in SOL, and institutional interest is rising, with Bitwise’s Solana ETF seeing 33 straight days of inflows. DeFi TVL stands at $8.6 to $8.98 billion, and DEX volumes often top $6 billion. Despite the bearish chart, fundamentals remain strong.
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