Solana’s Wyckoff Spring Pattern Signals Bullish Reversal: $120 Level Holds Key to Next Rally

As of February 5, 2026, solana (SOL) is exhibiting compelling technical signals that suggest a potential bullish reversal may be underway. The cryptocurrency's recent price action has formed what analysts identify as a classic Wyckoff spring pattern—a technical formation often preceding significant upward momentum. This pattern emerged after SOL successfully reclaimed its range support level, following what appears to have been a strategic liquidity sweep by larger market participants. A critical focal point for traders and analysts is the $120 price zone, which is now acting as a major weekly demand area and liquidity magnet. Market structure analysis indicates that bearish pressure has been weakening throughout an extended consolidation period, setting the stage for a possible trend shift. The $120 level is widely viewed as a make-or-break threshold; a sustained hold above this zone could confirm the bullish reversal and open the path toward higher price targets. The emergence of the Wyckoff pattern, particularly the spring phase, suggests that accumulation may have occurred during the consolidation, potentially positioning Solana for its next upward cycle. Market participants are closely monitoring volume profiles and order book dynamics around the $120 region for confirmation of renewed buying interest. Should Solana maintain its position above this critical support, the next resistance levels and projected targets will become clearer, offering strategic entry and exit points for both short-term traders and long-term investors in the evolving cryptocurrency landscape.

Solana Shows Signs of Bullish Reversal as Wyckoff Pattern Emerges

Solana's price action has developed a textbook Wyckoff spring pattern, suggesting potential bullish momentum ahead. The cryptocurrency reclaimed its range support after a strategic liquidity sweep, with $120 emerging as a critical liquidity magnet. Market structure now shows weakening bearish pressure following an extended consolidation period.

Traders are watching the $120 weekly demand zone as a make-or-break level for Solana's broader market cycle. The swift recovery from recent lows indicates strong absorption of sell-side pressure rather than genuine breakdown momentum. Such price behavior often precedes significant directional moves in either direction.

Analysts note the importance of this technical formation occurring after weeks of sideways action. The Wyckoff spring typically marks the transition from accumulation to markup phases, though confirmation requires sustained follow-through above key resistance levels. Market participants await either a decisive breakout or rejection at these technically significant price points.

Multicoin Capital's Kyle Samani Steps Down to Pursue AI and Robotics, Remains Bullish on Solana

Kyle Samani, co-founder and managing partner of Multicoin Capital, announced his departure from the crypto-focused investment firm after nearly a decade in the industry. The MOVE marks a pivotal shift for one of crypto's most influential figures, though Samani emphasized continued personal investments in digital assets.

Multicoin Capital, which manages $5.9 billion in assets, gained prominence through early bets on Solana (SOL) starting in 2018. Samani retains conviction in Solana's ecosystem and broader crypto adoption catalysts like the Clarity Act. Tushar Jain and Brian Smith will assume day-to-day leadership while Samani transitions to chairman of Forward Industries.

The departure underscores crypto's maturation as veterans explore adjacent technologies. "I'm excited to explore new areas like AI and robotics," Samani noted, framing the transition as complementary rather than competitive with blockchain's growth trajectory. Market observers will watch how his thesis evolves across these converging sectors.

Solana (SOL) Tests Key Support Amid Network Activity Surge

Solana's native token SOL breached the $90 level this week, marking a 16% weekly decline as crypto markets faced broad selling pressure. The drop mirrors retreats in Bitcoin (below $73,000) and ethereum (under $2,100), with SOL failing to hold critical support at $100.

Paradoxically, network activity hit record highs during the selloff. The blockchain processed 148 million transactions on January 30—excluding governance votes—demonstrating robust underlying usage. Tokenized stocks on Solana now command a $230 million market cap, suggesting institutional infrastructure continues expanding despite price volatility.

Technical charts warn of potential further downside toward $85, though some analysts project a $2,000 price target by 2030. ETF inflows remain tepid at under $9 million daily, while derivatives markets reflect bearish positioning.

Multiliquid and Metalayer Launch Standing Buyer Facility for Tokenized RWAs on Solana

Solana's $1B+ tokenized RWA ecosystem gains a critical liquidity backstop as Multiliquid and Metalayer Ventures introduce an instant redemption facility. The on-chain buyer absorbs exits during issuer delays, mirroring TradFi liquidity windows while leveraging Solana's speed.

Metalayer funds the pool backing continuous conversions, addressing a key bottleneck as tokenized asset volumes surge. The structure dynamically prices redemption requests, providing stability without traditional settlement lag.

This institutional-grade solution arrives as Solana cements its lead in RWA tokenization, with activity now eclipsing early-stage TradFi adoption curves. Market makers note the facility could unlock another $500M in dormant capital seeking shorter-duration exposure.