SOL - At Extremely Key Level SOL / TetherUSBINANCE:SOLUSDTVIAQUANTSolana is arguably at its most important liquidity range this entire bear market. The reason for this is that the current price zone was the main support region during last cycle, and it will likely act as new resistance for the time being. Why the $120 to $130 Range Matters To understand why this range matters so much, look back at my post from 2024, and click play to see how price used this exact range as the liquidity range low before the final bull market leg of that cycle: Since price broke below that range, it should act as a new resistance zone for the time being. I have outlined this on the current chart using the line chart, since it does a very good job of laying out this structure clearly. Reviewing the Recent History The last time Solana traded at this level was at the end of January 2026, right before it entered the main range I have outlined. SOL formed a low at this level on December 18, 2025, December 25, 2025, and January 25, 2026 (green arrows). Once SOL began closing daily candles below it, that kicked off the 50% breakdown that led to the eventual lows. After that breakdown, SOL established its primary trading range from February 2026 through present day, outlined here with the orange parallel channel. Once SOL broke out above that channel, it retest the top of old resistance as new support, and fueled the recent large breakout move to the upside. Why This Matters Now However, price has now reached this critical level around $120 once again. Since it was previously macro level support, it could act as new resistance for the time being. In addition to that, this is the 1.618 extension target of the swing high in May 2026 to the swing low in June 2026. I have this extension outlined based on candle closes, but if you prefer the target based on wicks, that would put it slightly higher around $122. The Momentum Signal Adding to this, the RSI gave a key signal at the recent high. Trend momentum is beginning to get rejected right off overbought conditions at 70. If momentum continues trailing to the downside, this would be a prime region for sellers to step back in and pull price back toward the downside. It would also create a bearish divergence on the daily timeframe, a higher high in price paired with a lower high on the RSI. If a pullback does occur from here, the top of the parallel channel, just below $100, will be a very key level to keep an eye on for the bulls. Once price is able to decisively close above the $120 it will be off to the races for Solana's bull market.