Solana (SOL) is currently trading at $185.61, down by 3.73% in a single day. The 24-hour trade volume is $7.62 billion, down by 47.49% from the last day. In spite of the downslide, the token retains a week-long gain of 4.99%, having reached $185.76 in the last week.
Market players are receiving mixed signals. As the short-term traders observe the recent pullback, long-term investors emphasize the gradual upward move during the week. Technical analysts explain that the change of momentum may present opportunities for new positions should SOL hold essential support. Active price action prevails with intense retail and institutional interests.
Technical Traders Eye Short-Term SOL Moves
Crypto analyst CryptoPulse believes that the asset remains in a solid uptrend. He also suggests possible targets of $219 (0.5 Fibonacci level) and $246 (0.618 Fibonacci level) in the ongoing rally. Such a trajectory is possible only with the support of bulls to hold the asset below the major $160 support level. A move below that level may take the coin down to the $120 zone.
Technical traders are monitoring the charts intently. Spikes of high volume last week of this month indicate intense buying demand. Nevertheless, the swift daily drop suggests profit-taking before the subsequent move. The fight among bulls and bears will either determine the continuation or dissipation of the momentum of SOL in the shorter term.
Developer Projects Boosting Solana’s Outlook
DigitalCoinPrice believes that SOL could rise above $294.33 and reach as high as $408.65 by the end of the year, possibly beating its old record. They believe this jump could be driven by more people using the network and new projects from developers.
Additionally, Changelly is more conservative. They forecast SOL in 2025 to range from $160.81 to $181.26, averaging $201.70, itself actually roughly 5% down on today’s value. For August of 2025, they are forecasting a narrower range of $193.70 to $198.79, roughly 3.9% more than today.
