Solana continues its moment of uncertainty with the price of the crypto SOL which has dropped by 20% in the last 11 days.
The cryptocurrency is approaching decisive chart levels that will determine the fate of the market in the medium term, while the short-term direction remains bear.
In the meantime, SOL remains within the trading range formed in April, while the monthly support of the crypto gives hope for a recovery from here onwards.
Will it be a bull or bear market for Solana in 2025? Everything will be decided in these days.
Let’s delve into the topic below.
Crypto news: the price of SOL (Solana) moves sideways in the range for 5 months
Solana, after experiencing a crazy price explosion between October 2023 and March 2024 with the crypto SOL that grew by 800%, now seems to be living in uncertainty.
In the last 5 months the performance of the currency has been particularly unstable, with alternating phases of bull and bear with high volatility.
In particular, since mid-April, Solana has been living in the trading range that goes from 120 to 180 dollars, unable to take a clear direction outside of the extremes.
Several times the bears have tried to break down the last support of the range, but punctually the bulls have absorbed the downward movements.
The last time the price of SOL came close to breaking the range was on August 5, in the midst of the collapse of the broader crypto market.
Now after a month of unexciting trading, here we are once again attacking the most significant graphical supports.
During the night SOL touched 122 dollars, crowning a 20% bear movement in the last 11 days, only to recover ground in the following hours.
At this moment it is just above the psychological threshold of 130 dollars, in the limbo between another violent breakdown or a recovery of the EMA 50.
A weekly close below the level of 120 dollars could trigger a bearish continuation for the price of the crypto Solana.
On the contrary, a return above the 50-day exponential moving average and subsequently a recovery of 180 dollars could give even more positivity to the chart.
The monthly support at 120 dollars keeps investors’ expectations for SOL high
The price level of 120 dollars on the SOL-USDT chart also represents a significant monthly support for the crypto Solana.
In the past, this level acted as resistance for the bull’s attempt to restart in 2022, before the bear market took over.
In April 2022 in particular, the break to the downside of the 120 dollar threshold triggered a subsequent leg down of 92% until the December low.
Now the monthly support helps to maintain the bullish bias of the investors of Solana who hope for the return of fire and flames in prices in Q4 2024.
It is therefore essential that SOL does not close the month of September below this important graphical level, while downward spikes are tolerated.
As we know, September is generally a bear month for the entire crypto sector, while October is almost always bullish, so much so that it is commonly referred to as “uptober”.
The macroeconomic outlook could improve significantly from mid-September onwards, with the FED about to make a drastic interest rate cut.
This detail could push the price of SOL towards new bullish targets in the last quarter of the year, as long as the bears do not take over.
If SOL were to go below the monthly support of 120 dollars, there would still be the 100 dollars support to keep a glimmer of light open.
However, already from that price, the chart would take a bearish turn that would make a positive restart even more complex.
Watch out for what will happen this month because it could be decisive for the medium-term fate of Solana.
The price predictions of Solana (SOL) for 2025
Despite the still very uncertain chart for Solana, several traders already predict new all-time highs for the price of the crypto SOL in 2025.
One of these is the crypto analyst “CryptoKaleo”, who in a recent analysis published on X identified a possible bull restart zone.
The expert believes that the drops recorded by the crypto asset are giving more momentum to each rebound, offering good opportunities for profit for those who buy the dips.
Kaleo states that SOL must first reclaim the 140 dollars as part of its return to the bullish trend in the short term. A reclaim of this level by the end of the week could give more momentum to the bulls who would see the next target as 147 dollars.
Since then, we could imagine a return above 180/200 dollars by the end of the year and then mark a new high above 260 dollars in 2025.
On the other hand, if SOL fails to maintain the price support at 120 dollars, it could fall lower, extending the time for a new high.
$SOL / #Solana
Nearly there pic.twitter.com/smjttRznjB
— K A L E O (@CryptoKaleo) September 1, 2024
Other traders provide a bullish price forecast for the future of Solana with maximum targets identified at 750 dollars by the end of the next bull market.
In 2025 the crypto could oscillate between 100 and 500 dollars according to “InvestingHaven”, with possible spikes in the upper extreme of the range.
Compared to the current quotations, it would be a nice upward leap for the price of SOL, such as to bring its capitalization above 300 billion dollars.
Let’s talk about particularly optimistic forecasts.
$SOL Price Targets for 2025
Solana may range from $100 to $500, with a stretch target of $750. Scalability will be key to reaching the top.
How high can Solana go? pic.twitter.com/77uKDMOmnp
— InvestingHaven (@InvestingHaven) September 3, 2024
In un mercato finanziario, i termini “bull” e “bear” sono comunemente usati per descrivere le tendenze del mercato. Un mercato “bull” è caratterizzato da un aumento dei prezzi delle azioni, mentre un mercato “bear” è caratterizzato da una diminuzione dei prezzi delle azioni. Gli investitori spesso cercano di prevedere se il mercato sarà “bull” o “bear” per prendere decisioni informate sui loro investimenti.
Scenario anything but positive instead that predicted by “PartTimeCharts”, which believes that there will be a very serious financial crisis soon.
This context will bring the crypto SOL back to the 10-dollar region, as during the bear market of 2022. It is a particularly pessimistic analysis, which considers a parallel collapse of all the speculative markets worldwide.
The same trader says, however, that he is confident about a recovery in the price of SOL following the financial crisis.
$SOL
First key level is about to be lost on the weekly. Fully expecting this to trade back in the $10 region in 2025.
We'll see what happens when we get down there, but I think Solana could be a great buy after the coming financial crisis. pic.twitter.com/M8vDsjFdvJ
— Part-Time Trader (@PartTimeCharts) September 1, 2024
