Solana: Here Is Where the Next Major Bottom Could Form

Solana (SOL) is under increasing technical pressure after losing the critical $103 support zone, with price action now reflecting a clear shift in short-term market structure.

On the 4-hour SOL/USDT chart from Binance, Solana is trading around $103.9 after a sharp sell-off that erased multiple prior support levels in rapid succession.

The breakdown follows a steep impulsive move lower, marked by expanding sell-side volume and a lack of meaningful bounce attempts. The chart shows a decisive rejection from the $115–$118 region, followed by accelerated downside momentum that pushed SOL straight through the psychological $110 level and into the low-$100s without forming a base.

What the 4H Chart Is Showing

The chart highlights a sequence of lower highs and lower lows throughout the second half of January, confirming a short-term downtrend. The most notable feature is the near-vertical drop into the $100–$105 zone, accompanied by a pronounced volume spike, signaling forced selling rather than controlled profit-taking.

While a minor intraday rebound occurred after the initial flush, price remains capped below former support, now acting as resistance. The inability to reclaim $103–$106 quickly suggests weak dip demand and a fragile market structure.

From a pure price-action perspective, the chart shows very limited consolidation between the current price and much lower historical zones, increasing the risk of continuation if selling pressure resumes.

 $63 Identified as Next Major Support

According to Ali Martinez, once Solana trades below $103, the next major support level sits significantly lower, around $63. This assessment aligns with the visible lack of structural support on the current chart, where price previously moved through this entire range during earlier impulsive phases without prolonged accumulation.

With $103 now broken, the market has effectively entered a price discovery phase to the downside, where historical demand zones become the primary reference points rather than recent short-term levels.

What Needs to Change to Stabilize

For downside risks to ease, Solana would need to reclaim and hold above the $103–$106 region on strong volume, converting it back into support. Without that reclaim, any short-term bounces remain corrective in nature rather than trend reversals.

As the chart stands, momentum favors sellers, and the structure suggests that failure to stabilize above $100 could expose SOL to a deeper retracement toward the $63 area highlighted by Ali Charts.

Until buyers demonstrate sustained strength, Solana remains technically vulnerable, with the $103 breakdown acting as a pivotal shift in near-term market control.

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