Is Solana Nearing the End of Its Correction? A Retest of the $130 Level Could Trigger a New Rise

Solana (SOL) is undergoing a notable correction after failing to break through the resistance level of $168 earlier this week. The impact from the overall market decline has led to a 15% fall in the price of SOL from the monthly peak, and it is currently fluctuating around the $140 mark for three consecutive days. 📉 Recent Trading Situation Since May, Solana has been trading in the price range of $145 to $180. However, strong fluctuations in June have pulled the price close to the bottom of this trading range. In particular, the average price range of $160-$170 has not been reclaimed since the beginning of the month. However, market analyst Lluciano believes that the current fall may continue a little longer, but the long-term target is very optimistic. According to him, after breaking out of the downward resistance line since March, SOL has officially ended the long-term downtrend. 📊 Technical Structure: Short-term Fall Wedge After the initial breakout, SOL retested the support area of $100-$120 before bouncing back to the current price level. On the chart, SOL is forming a falling wedge pattern that has lasted for a month — a pattern often seen as a bullish reversal signal. The upper boundary of this model is in the range of $155-$160. If there is a breakout from this descending wedge, analysts expect the price to head towards the resistance zone of May at $187, and further retest the peak at $240. 💬 Different Perspective: Bullish Signal from MA50 Trader Rose also has a positive outlook as SOL is accumulating above the 50-day moving average (MA50) and the strong support zone of $145. If a breakout is confirmed, the next bullish targets are $165, $183, and $220. 🧠 Reverse Scenario: The Fall Isn't Over? Despite having growth potential, some experts warn that SOL may not have finished its correction yet. The scenario mentioned is that SOL will break the current price range and retreat to the accumulation area from April around the $125-$135 mark. However, this could be the final retest before the start of the last major increase of this cycle. If this roadmap is followed, the price of SOL will then surge above $200, with targets in the range of $220-$250 before the cycle ends. ⚠️ Compared to Bitcoin: Is the Strength Weakening? A notable point is that SOL is retesting the support zone of November 2023 against BTC, which previously marked the year's low. If it continues to not hold this level, Solana may weaken further in comparison to Bitcoin. However, experts emphasize that the current cycle is not yet over, and SOL still has the opportunity to create a strong "final wave" in the upcoming period — if the support area around $130 is maintained and triggers new buying momentum. 🔎 Summary ✅ The technical model supports the possibility of a bullish reversal. ✅ The strong support zone $130-$145 is holding well. ⚠️ Risks still exist if the area of $130 is lost, it may retest $125. 🎯 Long-term targets: $187, $220, and $240 if breakout is successful.

👉 Investors should monitor the price reaction around the $130-$145 mark — this will be the key point to determine whether Solana will enter a new uptrend or continue to adjust deeper in the short term.