Analysts Lay Out Solana’s Path to $120 as Negative Sentiment Surges to 2026 High ⋆ ZyCrypto
Solana (SOL) remained range-bound on Monday as cautious investor sentiment continued to outweigh strong liquidity in the broader digital asset market.
Notably, over the past seven days, the cryptocurrency declined by nearly 3%, with persistent selling pressure preventing a meaningful recovery.
Meanwhile, according to data shared by the popular blockchain analytics platform Santiment, Solana is experiencing its highest level of negative social sentiment in 2026, while trading volume has fallen to its lowest level this year.
The firm noted that traders have become increasingly frustrated because bullish narratives surrounding tokenized stocks and real-world asset (RWA) adoption have yet to translate into sustained price gains.
However, Santiment argued that this combination of extremely bearish sentiment and declining trading activity has historically created favorable conditions for unexpected recoveries.
 
Additionally, the platform suggested that when retail participation fades and pessimism becomes widespread, it often reduces selling pressure, allowing larger investors to move prices higher if buying demand returns. As a result, the current environment could represent a low-attention phase where sharp upside moves become possible.
Elsewhere, several prominent market commentators echoed the view that Solana may be approaching an important turning point despite recent weakness.
Furthermore, crypto analyst Ash Crypto described SOL as the most oversold it has ever been based on long-term technical indicators.
The analyst pointed to multiple bearish milestones, including an 80% decline from its all-time high, eight consecutive monthly losses, and a monthly Relative Strength Index (RSI) reading that has fallen below levels recorded during the 2022 FTX collapse.
According to him, such historically oversold conditions often precede major reversals, prompting speculation that the market could be nearing a long-term bottom.
Although oversold readings do not guarantee an immediate recovery, they often attract investors seeking discounted entry points following prolonged corrections.
Moreover, crypto enthusiast Michaël van de Poppe outlined a clear technical roadmap for Solana’s next move.
According to his analysis, the $73-$76 range represents a critical support zone. If SOL successfully defends that area and rebounds, it would strengthen the case for a move beyond the psychologically important $100 level.
Should bullish momentum continue, analysts believe the next significant resistance could emerge around $120, making it an important upside target if buyers regain control.
However, Van de Poppe cautioned that failure to hold support could trigger another wave of selling, potentially sending Solana toward fresh lows alongside the broader crypto market.
However, despite the recent downturn, some market participants remain optimistic about Solana’s longer-term prospects.
Analyst Celal Kucuker argued that SOL has demonstrated one of the strongest performances relative to many other digital assets during the current market cycle.
He believes the network still has the potential to reach a new all-time high before the end of the year, projecting a six- to nine-month price target of around $400.
That said, while analysts remain divided over the timing of the next rally, many agree that maintaining key support levels will be essential if SOL is to reclaim $100 and eventually challenge the $120 level in the months ahead.
At press time, SOL was trading at $76.25, reflecting a 0.28% loss in the past 24 hours.
