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SOL key level 132 failed to hold effectively, followed by a rapid decline in the market, currently consolidating below 130. If the 130 support is confirmed to break, the price may further decline towards 120.
From a technical perspective, SOL has consecutively lost the 130 and 128 levels and continues to trade below the 100-hour moving average, indicating short-term downward pressure. Observing the SOL/USD hourly chart, a descending trendline is forming, with current resistance lowered to around 131. To attempt a rebound, the price must first break through this resistance zone.
It is worth noting that there is structural support in the 122-120 range below. If the bulls can establish effective defense in this area, SOL still has the potential for a short-term rebound.