Date: Tue, Dec 16, 2025 | 05:54 AM GMT
The cryptocurrency market continues to face heavy selling pressure as the total crypto market cap plunged by 4.17% over the past 24 hours. This sharp correction has fueled heightened volatility across the market, triggering more than $650 million in liquidations, with long positions bearing the brunt of the damage.
This wave of risk-off sentiment has weighed heavily on major altcoins, including Solana (SOL), which has slipped over 4% during the downturn. However, despite the weakness, the daily chart is beginning to reveal a technical structure that suggests sellers may be losing momentum and a potential rebound could be forming beneath the surface.
Is Triple Bottom in Play?
A clear Triple Bottom structure is taking shape on the daily timeframe, a classic bullish reversal pattern that often appears after extended downside pressure. The chart shows three distinct swing lows forming around the same support base, indicating that buyers are consistently stepping in at this level.
Each decline into the $121–$123 support region has been met with strong buying interest, preventing any sustained breakdown. This repeated defense highlights demand absorption and suggests that sellers are struggling to push price lower despite multiple attempts.
Throughout the highlighted consolidation zone, SOL has continued to oscillate between the support floor near $121 and the upper boundary of the range, creating a tightening price structure. The most recent pullback once again brings price into this critical demand area, mirroring the earlier dips that resulted in sharp upside reactions.
This behavior points more toward accumulation than continuation, as persistent support holds despite broader market weakness.
What’s Next for SOL?
If buyers continue to defend the $121–$123 support zone and price avoids a daily close below this range, Solana could confirm its third structural low, effectively completing the Triple Bottom formation. Such confirmation would increase the probability of a rebound toward the neckline resistance near $144.75, representing roughly a 14% upside from current levels.
A decisive breakout above the neckline would further strengthen the bullish case and could open the door for a broader continuation move toward the $168.50 region. However, this scenario would require expanding volume and a clean reclaim of range resistance to gain confirmation.
On the flip side, failure to hold the $121 support with a confirmed daily close below this level would invalidate the Triple Bottom setup and shift the outlook back toward downside continuation.
For now, Solana sits at a critical technical inflection point, with price pressing into a third support test. The coming sessions may determine whether this level sparks a rebound or finally gives way under pressure.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
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