{"id":20587,"date":"2026-01-26T06:42:03","date_gmt":"2026-01-26T06:42:03","guid":{"rendered":"https:\/\/bitunikey.com\/news\/solana-price-slips-below-key-trend-support-despite-memecoin-resurgence-is-120-next\/"},"modified":"2026-01-26T06:42:13","modified_gmt":"2026-01-26T06:42:13","slug":"solana-price-slips-below-key-trend-support-despite-memecoin-resurgence-is-120-next","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/solana-price-slips-below-key-trend-support-despite-memecoin-resurgence-is-120-next\/","title":{"rendered":"Solana price slips below key trend support despite memecoin resurgence \u2014 is $120 next?"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">Solana\u00a0 price has continued to fall even as meme-driven activity across the network has sharply picked up.<\/p>\n<div id=\"cn-block-summary-block_726f8ff2924234304401854e4106ffa7\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>Solana fell back toward the $120 area after failing to hold January gains, despite a sharp jump in trading activity.<\/li>\n<li>Futures volume rose while open interest edged lower, pointing to position unwinding rather than fresh bullish bets.<\/li>\n<li>Price is trading below key moving averages, with $120 acting as near-term support after repeated rejections above $135.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>SOL was trading near $122 at press time, down 3.3% over the past 24 hours. Over the week, the price has ranged between $118 and $134, and the token is now down 8.5% on the week after failing to hold January\u2019s rebound.<\/p>\n<p>Market activity increased sharply during the pullback. The 24-hour trading volume for Solana (SOL) rose by more than 270% to $6.42 billion. The increase suggests that traders are actively switching positions as the price declines, indicating increased short-term involvement.\u00a0<\/p>\n<p>Derivatives paint a similar picture. CoinGlass <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/currencies\/SOL\/futures\" target=\"_blank\" rel=\"nofollow\">data<\/a> shows that futures volume rose 256% to $14.79 billion while open interest fell by 0.75% to $7.47 billion. When volume increases but open interest decreases, it usually indicates position closing and quick turnover rather than conviction-driven new investments.<\/p>\n<h2 class=\"wp-block-heading\">Memecoins return, but momentum cools quickly<\/h2>\n<p>The increase in trading comes as Solana\u2019s memecoin sector shows renewed life after a quiet stretch through much of 2025. Recent estimates place the combined valuation of Solana-based meme tokens between $6.8 billion and $8 billion, following a wave of speculative inflows early this year.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>Platforms such as Pump.fun recorded record sessions, with peak daily volumes reported near $1.2 billion during periods of intense activity. Several viral launches helped drive attention back to the ecosystem, with some tokens posting sharp, short-lived gains after unusual social media triggers.<\/p>\n<p>This burst of speculation helped lift SOL earlier in January, pushing the price back above $139 and briefly toward the mid-$140s. That move has since unwound. <\/p>\n<p>Price declined as the initial excitement subsided, indicating that a large portion of the inflow was related to short-term trades rather than longer-term positioning. Memecoin trading increases Solana\u2019s usage and fee activity, but its effects on SOL have been inconsistent. <\/p>\n<h2 class=\"wp-block-heading\">Solana price technical analysis<\/h2>\n<p>On the chart, Solana has slipped below its short-term trend support around $124 and failed to reclaim prior consolidation levels. Each bounce attempt has been met with selling, keeping pressure on the price.<\/p>\n<p>The 50-day moving average, sitting in the mid-$130s, continues to act as a ceiling. Since the peak above $240, the price has consistently rolled over before reaching that area. Selling pressure has also pushed the price closer to the lower Bollinger Band, while the mid-band has started to slope lower.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Solana daily chart. Credit: crypto.news<\/figcaption><\/figure>\n<p>Momentum has softened. The relative strength index has dropped below the mid-40s and has yet to show any meaningful recovery. Downside energy has slowed near current levels, but there are no clear signs of a reversal.<\/p>\n<p>The $120 zone now sits in focus. It lines up with prior demand and recent consolidation. A daily close below it would leave little support until the psychological $100 area. If buyers step in and hold the level, price may stabilize, though upside attempts are likely to stay capped unless SOL can move back above $135\u2013$140.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Solana\u00a0 price has continued to fall even as meme-driven activity across the network has sharply picked up. Summary Solana fell back toward the $120 area after failing to hold January&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=20587"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20587\/revisions"}],"predecessor-version":[{"id":20588,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/20587\/revisions\/20588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5268"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=20587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=20587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=20587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}