Solana price risks capitulation below $117 as bearish structure remains intact

Solana price remains under heavy pressure as bearish structure persists, with repeated tests of $117 support increasing the risk of a capitulation-style breakdown.

Solana (SOL) price action continues to deteriorate, with the broader market structure remains firmly bearish. Despite brief relief rallies, SOL has consistently failed to regain upside traction, reinforcing the prevailing downtrend.

With price now rotating back toward high-time-frame support at $117, market participants are closely watching this level for signs of either stabilization or failure. Given the lack of bullish participation and the persistence of lower highs, the risk of a capitulation move below support is increasing.

Solana price key technical points

• Bearish market structure intact: Consecutive lower highs and lower lows persist.
• $117 support under repeated pressure: Multiple tests weaken the level.
• Lack of bullish volume: Downside risk remains elevated.

From a market structure perspective, Solana remains locked in a clear downtrend. Each attempt at a rebound has resulted in a lower high, signaling that sellers continue to control momentum. The most recent rally from high-time-frame support failed to develop into a sustained move, instead stalling and rolling over into renewed weakness.

This behavior suggests that upside moves are corrective rather than impulsive. In trending markets, corrective rallies often provide opportunities for sellers to re-enter positions, further reinforcing downside pressure.

$117 support becomes the critical battleground

The $117 level has emerged as a pivotal zone on the chart. It represents high-time-frame support that has been tested multiple times over recent sessions. While support can initially attract buyers, repeated tests without meaningful bounces often weaken its effectiveness.

Solana’s inability to produce strong follow-through from this region is a warning sign. Each retest has resulted in diminishing reactions, indicating that demand at this level may be drying up rather than strengthening.

Capitulation risk increases with structural weakness

As bearish momentum remains aggressive, the probability of a capitulation-style move grows if $117 fails to hold. Capitulation typically occurs when price accelerates sharply lower after a widely watched support level breaks, triggering stop-losses and forced selling.

In Solana’s case, a breakdown below $117 could tap into resting liquidity beneath support, amplifying downside momentum. Such moves often occur quickly and can overshoot fair value before stabilizing.

Volume confirms lack of demand

Volume behavior continues to support the bearish thesis. There has been no meaningful influx of bullish volume during recent pullbacks or consolidations. Without active demand, the price remains vulnerable to even modest selling pressure.

Strong reversals are typically accompanied by expanding volume as buyers step in with conviction. The absence of this behavior suggests that market participants are hesitant to accumulate at current levels, increasing the likelihood of further downside.

Broader trend remains unfavorable

From a higher-time-frame perspective, Solana has yet to show any evidence of trend reversal. The structure of lower highs and lower lows remains intact, and key resistance levels have not been reclaimed. Until this changes, the path of least resistance continues to point lower.

While capitulation can sometimes mark an eventual bottom, it is often a process rather than a single event, requiring time and stabilization before a meaningful recovery can begin.

What to expect in the coming price action

Solana is approaching a decisive moment. As long as price continues to trade below prior resistance and tests $117 without a strong reaction, the risk of a breakdown remains elevated. A loss of this support could trigger a capitulation move, accelerating the price lower in search of new demand zones.

For the bearish outlook to be invalidated, Solana would need to reclaim key resistance levels with strong volume and improve market structure. Until then, caution remains warranted as downside risk dominates the near-term outlook.