Solana (SOL) Price Set for Volatility if Bulls Fails to Hold This Support

Key Takeaways

• Solana (SOL) trades in the middle of its horizontal range.
• The SOL price has increased by 75% since the start of April.
• Will Solana increase to its range high or fall to the low?

Solana (SOL) has been the best-performing Layer-1 coin in the current market cycle.

Its price has increased by nearly 3,500% since its 2023 low, culminating in a new all-time high of $295 in January 2025.

However, the tides shifted this year, leading to a nearly 70% decline. While SOL has regained its footing since April, it is unclear if it has started a bullish trend reversal.

Let’s examine the charts and see what lies ahead in 2025.

SOL Price Prevents Breakdown

The weekly time frame Solana chart analysis shows that the price has fallen since its all-time high of $295.31 in January.

While initially decreasing below the $125 horizontal support area, the SOL price prevented a breakdown with a strong bounce (black circle).

Such deviations often lead to bullish trend reversals, as was the case with the Solana price.

Despite its decline, the SOL price has failed to reclaim the middle of the range (red) and might have started another downward movement.

If so, the Solana price could return to its range low of $125.

Technical indicators are also at decisive levels. The Relative Strength Index (RSI) is at 50, while the Moving Average Convergence/Divergence (MACD) is at 0.

If Solana reclaims the middle of its range at $180, these indicators will turn bullish.

However, the weekly time frame SOL analysis leans bearish, suggesting a price decline is likely.

What’s Next for SOL?

The long-term wave count gives a bearish Solana price prediction. It suggests the ongoing rally is corrective.

If the count is accurate, Solana has completed a five-wave upward movement (green) from the start of 2023 until the all-time high.

Then, it started an A-B-C correction (red) and is currently in wave B.

The long-term count suggests the SOL price will not reach another all-time high this cycle.

The short-term count aligns with this possibility. Solana has completed a five-wave upward movement and is finishing an A-B-C correction, which could take it to $130-$142.

Solana’s price is nearing a short-term bottom today and could reach it by the end of the week.

Afterward, the SOL price could begin another upward movement, the final before the downward trend continues.

Bearish Long-Term Trend

The SOL price prevented a breakdown with a strong bounce in April.

However, the long-term analysis remains bearish, indicating the Solana price is in a correction.

SOL is also in a short-term bearish trend and could decline toward $130-$142 before resuming its ascent.