Solana price is hovering around $125, but recent price action suggests downside risk is increasing. On the 4-hour chart, Ali Charts notes Solana appears to be retesting a prior channel breakdown zone rather than reclaiming it. The price has struggled to hold above the $124–$125 area, and momentum has failed to follow through on recent rebounds.
This type of retest often determines whether a breakdown is invalidated or confirmed. In this case, the lack of strength increases the probability of a lower continuation, with $107 identified as the next major downside level if support gives way. SOL ETF inflows continue to cushion broader selling pressure, helping explain why the price has not broken sharply lower despite the weakening structure.
Daily active wallets have fallen by 87% since January, suggesting reduced retail participation. This divergence points to the fact that institutions are providing stability, but not enough demand to reverse short-term technical weakness.
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