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Key Takeaways:
- Solana remains range-bound between $125 and $180 with no clear breakout.
- Bearish candlestick and weak momentum suggest a short-term drop to $145.
- Long-term indicators remain neutral, leaving SOL’s 2025 direction uncertain.
Solana (SOL) remains range-bound between $125 and $180, with recent price action hinting at a potential breakdown toward the lower end of the range. Traders are eyeing a retreat to $145 as bearish momentum builds following a failed breakout attempt.
Prolonged Consolidation Dominates SOL Price
Since early 2024, Solana has been locked in a sideways trading pattern, fluctuating between $125 and $180. Despite several attempts to break out, the price repeatedly returns to its established range. A recent breakout effort in July briefly pushed SOL above a descending resistance line, but it quickly reversed, forming a bearish engulfing candlestick on the weekly chart.
This reversal indicates renewed downside pressure. With SOL now hovering near weekly lows and failing to recover, market sentiment has shifted cautiously bearish.
Technical Indicators Offer Mixed Signals
Long-term indicators remain indecisive. The Relative Strength Index (RSI) sits at a neutral 50, while the Moving Average Convergence Divergence (MACD) hovers around 0—signaling a lack of dominant trend direction. These mixed readings mean the broader 2025 Solana price outlook remains unclear.
However, in the short term, the daily chart paints a more bearish picture. Wave analysis suggests an ongoing A-B-C correction, with Solana potentially nearing the end of wave C. If correct, this would imply further downside movement before any meaningful rebound.
Short-Term Target: $145
Daily momentum indicators reinforce the bearish outlook. The RSI has dropped below 50, and the MACD remains negative—classic signals of weakening momentum. Combined with the corrective wave structure, analysts now forecast a pullback toward $145, likely within the week.
Also Read: Solana Holders Buy the Dip Amid Capitulation Signs
If SOL fails to hold that level, a deeper correction toward the $125 range low could follow.
Solana’s inability to sustain July’s breakout attempt and the formation of a bearish engulfing candle have shifted the short-term bias to the downside. With momentum weakening and technical patterns aligning, a dip to $145 appears likely in the coming days. Long-term direction remains uncertain, but near-term caution is advised.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
