Solana (SOL) Fights to Hold $120—Is the Next Move Lower?

Solana failed to settle above $132 and nosedived. SOL price is now consolidating losses below $130 and might decline further below $120.SOL price started a fresh decline below $130 and $128 against the US Dollar.
The price is now trading below $128 and the 100-hourly simple moving average.
There is a key bearish trend line forming with resistance at $131 on the hourly chart of the SOL/USD pair (data source from Kraken).
The price could start a recovery wave if the bulls defend $122 or $120.Solan