Solana (SOL) has slid ~12% this month to about $127.7, trading over 48% below its September peak. Weekly charts show a multiyear double-top with a neckline near $120 — a break below $120 would likely confirm a bearish reversal toward the April low near $95, while a sustained move above $155 would invalidate the pattern. On-chain demand and institutional interest have weakened: DeFi TVL on Solana fell from $35.1B to $23.8B, protocol fees dropped from $31M to $8M, and spot SOL ETF inflows declined from $199.2M in the first week after launch to $13.1M last week.

Price is ~ $127.7 and down >12% this month and >48% from the September peak; technical weekly double-top with a neckline at ~$120 risks a move to the April low near $95 if broken. On-chain metrics show DeFi TVL fell from $35.1B to $23.8B and protocol fees declined from $31M to $8M; spot SOL ETF inflows dropped from $199.2M initially to $13.1M last week — all concrete signs of weakening demand supporting a bearish outlook and meaningful short-term trading relevance.