Solana (SOL) currently trades near $164 amid conflicting technical signals, balancing a long-term bullish formation against immediate bearish risks in cryptocurrency markets. Analysts suggest short-term price vulnerability may precede an eventual recovery later this year.
Technical analyst Ted observes a developing cup-and-handle pattern on long-term charts—a historically bullish indicator. His analysis anticipates potential retracement to $140-$150 before a significant rebound materializes in 2025, with this range viewed as a critical accumulation zone for traders.
Contrasting this optimism, analyst Kamran Asghar identifies bearish signals in short-term charts. He notes SOL’s breakdown from the $150-$155 support level and subsequent failure to sustain momentum during retests near $164, heightening downside risk for the asset in the immediate term.
Long-term sentiment remains supported by Solana’s robust network activity and historical consolidation patterns between $150 and $200. These fundamentals suggest substantial upside potential upon resolution of near-term technical pressures, despite current volatility warnings.
Market participants are advised to closely monitor the $140-$150 band as vital support territory. While price consolidation remains likely in the near term, the persistence of the cup-and-handle structure reinforces analyst confidence in SOL’s recovery prospects later this year.