SOL recently has been quite interesting. The $144 level was strongly rejected, and now it’s fluctuating above and below $140. From a technical perspective, a local top formation is indeed taking shape, and in the short term, attention should be paid to the $128-130 range—this is not only a key support but also an unfilled FVG gap, which is likely to be tested again.

What’s more intriguing is the structural logic. Solana may be forming an inverse head and shoulders pattern, with November and December corresponding to the left shoulder and head, respectively, and $145 serving as the neckline. The recent pullback likely hints that the right shoulder is about to start—initially dipping lower, then initiating a breakout.

But don’t be too pessimistic; the bulls are still active. Many analysts in the industry expect that if SOL can regain and hold above $143, it could open up room toward $152 and even $171.55; conversely, if it falls below $133, it indicates that more consolidation is needed, requiring more time to build a bottom.

Overall, this is currently short-term consolidation and shakeout, with the medium-term trend still intact. The key is to grasp the rhythm well.