Solana Price at a Crossroads: Will Support Hold or Fall?

Solana (SOL) price is facing a critical decision point. After reaching a new all-time high near $295, the crypto has struggled to sustain those levels and now finds itself testing key support near $117. Analysts are observing this test with keen interest as it holds potential to shape Solana’s medium-term trajectory. The price recently experienced bearish divergence on its weekly Relative Strength Index (RSI) chart, a signal suggesting waning bullish momentum. The area around $117 combines horizontal support with the 1.618 Fibonacci level, making this zone significant for traders.