Solana (SOL) is under significant pressure as 79.6% of its circulating supply is currently at a loss, a situation reminiscent of past market resets like the LUNA and FTX collapses. This condition often precedes basing periods and potential rallies. The current price range of $128 to $132 aligns with a long-term structural support zone, according to analysts. Additionally, momentum indicators are showing bullish divergence, suggesting that Solana may be stabilizing and could experience a bounce in the near future.