SOL | Descending Trendline Retest – Possible Pullback Toward Dem

Solana (SOL) is currently trading under a strong descending trendline on the 1H timeframe.
Price has made a minor recovery and is retesting the trendline from below, indicating a potential lower-high formation.

Key Observations

Price is respecting a clear downtrend structure.

Currently near a trendline + minor resistance confluence, indicating possible rejection.

A major demand zone lies between 128 – 127, where buyers have previously reacted.

If the trendline rejection holds, price may continue downward.

Bearish Scenario

If SOL rejects from the trendline,
→ Expect a move back into 128–127 demand zone.

A breakdown below this zone may extend the drop toward 120–118 deeper demand.

Bullish Invalidations

A clean breakout and retest above 138.26 would shift momentum bullish
→ Possible reversal toward 144–147 supply area.

Trading Plan (Not financial advice)

Wait for confirmation on trendline rejection before entering.

Target 1: 128

Target 2: 120–118 zone

Invalidation: Break & close above 138.26 (trend reversal zone)