Here's What's Next for Solana | Credit: Hameem Sarwar
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Key Takeaways
The $165 resistance area rejected Solana’s (SOL) price this week.
SOL’s recovery in July is weaker than the rest of the crypto market.
Will SOL start catching up, or will it continue underperforming in 2025?
Solana’s recent recovery has lagged behind the broader crypto market, raising concerns about its long-term momentum.
Despite forming a higher low, Solana failed to reclaim a key resistance against USD and Bitcoin.
With the price action showing consolidation, how will Solana’s next move take shape?
Solana Price Prediction
Like the rest of the crypto market, the Solana price rallied between April and May but fell short of its all-time high price.
Then, it created a higher low in June, ending a near 40-day correction, and started another upward trend.
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Despite the rally, the SOL breakout has been underwhelming, compared to the rest of the crypto market and relative to the price chart.
Despite several attempts, SOL failed to close above the $165 resistance area but rather created long upper wicks (red icons), which are considered signs of selling pressure.
In addition, momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) are losing strength and risk falling below their breakout levels.
After a weak bounce, the SOL price risks another breakdown, which could take it near ₿0.00110.
Bitcoin’s Dominance is falling, and many altcoins are outperforming Bitcoin. So, SOL’s price action leaves much to be desired in both the USD and BTC pairs.
Unclear Solana Trend
The SOL price has rallied since June but has not confirmed its bullish trend reversal because it has failed to break out above $165.
Similarly, the SOL to BTC price failed to reclaim its previous support and risks a breakdown to new lows.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
