Based on the latest data (as of December 24, 2025), Solana (SOL) is experiencing a period of significant correction and is trading in the range of $122–$126 amid a predominantly bearish market sentiment.

Key takeaway:

The Solana market is currently at a critical point. There is a high likelihood of breaking an important support level at $110, which could open the way for further declines to $90–$100.

Main risk factors (Bearish signals):

Critical drop in activity:

The number of active users on the network and transaction volumes have sharply decreased (by 97% from peak values), indicating low organic demand.

Technical indicators: Most signals (MACD, RSI, position relative to moving averages) indicate seller dominance and a lack of upward momentum.

Summary: In the short term, the risk of further declines in Solana's price dominates, and investors should be prepared for a possible test and break of the $110 mark. The potential for recovery remains, but it depends on the successful implementation of key technological upgrades and the stabilization of the overall cryptocurrency market.

The short-term forecast remains "bearish".