The post Solana price loses $120 as bearish money flow puts $117 support to test appeared on BitcoinEthereumNews.com.
Solana price has fallen below $120 after its rally stalled near $125, leaving traders focused on whether support around $117 can hold. Summary Solana price has retreated from $124.62 after failing to break the $125 level on the daily chart. Price has fallen below $118.75, while the 4-hour chart shows negative Chaikin Money Flow. The $117 area is the immediate test, followed by $116.32 and $112.50 if selling continues. A recovery above $120.29 would put the $124–$125 resistance area back in focus. SOL traded near $117.50 on Sep. 29, about 5.7% below its Sep. 27 high of $124.62. CoinGecko put the token near $117.85, down about 1.6% over 24 hours. SOL began the past week near $115 and climbed toward $125 before giving back part of the advance. The reversal gathered pace after the token slipped below $120, a level it had crossed during the rally but could not hold on its latest attempt. The retreat followed a sharp rise from the mid-September area near $97. SOL remains well above that level, but the move from $124.62 to roughly $117.50 has put the latest leg of the rally under pressure. The daily and 4-hour charts now place the next tests on opposite sides of the current price: support near $117 and resistance from about $120 to $125. Why is Solana price down? SOL turned lower after approaching $125, which the daily chart marks as a major Murrey Math resistance level. The price reached $124.62 on Sep. 27, then fell over the following two days and moved below the indicator’s $118.75 level. Solana price daily chart — Sep. 29 | Source: TradingView The charts show where the rally stalled and how far SOL has pulled back. They do not establish a single cause for the decline. The move is consistent with…