Solana Tests $139: Can Bulls Hold Key Support?

Solana's Price at $139: Can It Stabilize Beyond This Key Support Level?

Amidst the ongoing challenges in the cryptocurrency landscape, Solana (SOL) finds itself at a critical juncture, testing the $139 support level. With fluctuating price trends and macroeconomic pressures, analysts are closely monitoring SOL's ability to maintain this crucial threshold.

A failure to sustain above $139 may usher in significant price movements, noted an analyst from COINOTAG, underscoring the level's historical significance. Solana (SOL) is at a pivotal $139 support level, with the potential for major fluctuations in its pricing trend depending on its ability to hold this position.

Solana's aggregated cost basis of $139 is more than just a psychological barrier—historical data suggests that it has been a defining level for trend shifts. In 2022, SOL hovered near this mark for five months. It struggled to maintain stability before eventually breaking below and entering a prolonged decline that only reversed in October 2023.

The Glassnode data highlights this trend: sustained dips below this threshold have previously triggered extended bearish periods. At the same time, recoveries above it have led to stronger rallies. If SOL manages to hold above $139, it could serve as a foundation for accumulation and potential upside.

If SOL breaches $139, historical patterns suggest a heightened risk of extended downside momentum. In 2022, the breakdown below this level resulted in a deep correction that lasted nearly a year before Solana regained strength. The realized price indicator also showed that movements below $139 often coincided with prolonged consolidation or lower re-accumulation ranges.

Should SOL break below $139 again, key downside targets could emerge around $100 and $125—levels where prior buying activity resurfaced in late 2023. A sustained drop below $139 could also shake investor confidence, potentially triggering cascading liquidations. For Solana to avoid repeating the 2022 downtrend, bulls must step in aggressively at this critical support level.

Solana has already slipped below $139, trading at $131.54, raising concerns about further downside. Technical indicators suggest