Can Solana (SOL) Hold Above $130 Before Q2 Ends?

The famous altcoin Solana has dropped nearly 10% in value over the past week, and the downward pressure seems to show no signs of stopping. The Token has fallen to 129 USD today as geopolitical tensions between the US and Iran escalate.

As the second quarter of 2025 is about to end, increased sell-offs have put Solana's price at risk of breaking below the critical support level of 130 USD. This analysis will explain how this is happening.

SOL declines as key indicators still show a downward trend

Over the past seven days, SOL's price has been steadily declining. This is accompanied by a drop in the Chaikin Money Flow (CMF) of the coin, which has fallen deeper into the negative zone. At the time of writing, SOL's CMF is -0.13.

CMF measures the inflow and outflow of money from an asset over a specific period, typically 20 or 21 days. It combines price and volume data to assess buying and selling pressure. When an asset's CMF is positive, buying volume dominates and Capital is flowing into the asset, indicating potential bullish sentiment.

Conversely, when CMF turns negative, selling volume outweighs buying volume, meaning money is flowing out. This signals that demand for SOL is weakening, especially if the negative index goes deeper while the price declines.

Moreover, the coin's Elder-Ray index, which measures the balance between buyers and sellers, is at -20.74, indicating that sellers are strongly in control.

This index measures the strength of buyers and sellers in the market by analyzing the difference between an asset's price and a moving average. When it is negative, sellers dominate, as the price continuously drops below the Medium, showing selling pressure outweighs buying interest.

Will SOL recover above 130 USD or is it about to drop to 123 USD?

This seller dominance reflects growing confidence that SOL's price may decline further, especially if the 134 USD level fails to hold as support.

Meanwhile, breaking below this level could open the door to deeper losses, potentially pulling SOL down to 123.49 USD.

However, if buyers can regain control, they may push Solana's price up to 142.59 USD.