Solana Price Forecast for Dec 31: SOL Must Hold the $118 Support, but Where Next?

Solana shows positive short-term momentum, but one key support must hold for a directional move. Where next?

Notably, Solana (SOL) is currently changing hands at $126.16, marking a 1.7% increase in the past 24 hours. Within this period, the price has hit a bottom of $123.59, and reached a top at $126.57, with immediate resistance located above the $127 level.

If SOL manages to break through this resistance, it could target higher levels around $130. On performance charts, Solana has shown a 3.4% increase over the past 7 days, indicating positive short-term momentum. However, the 14-day performance shows a 1.6% loss, and the 30-day data reveals a minimal decline of 0.5%.

These figures suggest that while there’s some short-term optimism, the overall market sentiment remains cautious, preventing SOL from making a significant breakout

Solana Price Analysis

The Solana chart presents a notable price action, with a focus on key indicators like the Parabolic SAR and the MACD. Specifically, the Parabolic SAR is currently placed at $118.12, just below the price. This suggests a bullish trend, as the dots are positioned under the candles, which aligns with the recent upward movement.

Solana priceThe support level is significant as it represents a low point in December 2025, where price needs to hold for a sustainable surge. The resistance level, seen at $129.80, marks a ceiling where the price is currently encountering resistance. If the price manages to break above $130, the next potential resistance could be around the $133 level.

Further, the MACD indicator is currently showing a bullish divergence, with the MACD line (blue) rising above the signal line (orange), signaling positive momentum. The histogram has also shifted into green, indicating an increase in bullish momentum

Ultimately, the momentum shift is clear, but for confirmation, the price would need to continue pushing above $129, breaking the resistance, to validate the uptrend. If the price fails to break this resistance, we may see a pullback toward the support region of $118.12 again.

This Key Support Must Hold

Solana predictionIn the chart, Tony illustrates how this support has previously prevented further declines in SOL’s price, emphasizing its significance in maintaining upward momentum.