Solna of Solana
The last 24 hours fell 7.87% to $ 147.07, as traders reacted to fresh instability in Crypto markets. After opening at $ 159.60, Sol fell rapidly at late Thursday night and early Friday, reaching a low of $ 142.13 before stabilizing the $ 147 mark. Major intraday volumes suggest some accumulation near spikes support, but the overall structure remains delicate as the token trades down about 40% below its high level of March.
The short -term weakness focuses on the price target late May from the standard chartered global research team. On 27 May Comment Inaugurating the formal coverage of SOL, the bank predicts that Solana will increase to $ 275 by the end of the year, with a long -term target of $ 500 by 2029. The report cited the speed and efficiency of Solana, but admitted that most of its recent meme-cone-powered activity was very much exempted from the market.
The growing gap between that rapid outlook and current market conditions reflects the main dilemma facing long -term Sol investors: whether the recent drawdown is to behave as a temporary noise or to behave as a fundamental rejection of the development story. While the standard chartered expected Solana to reduce ether in the near period, it deployed the tokens as a high-beeta condition on retail-driven ecosystems, which could be again rate rate when spreading beyond memecoin.
For now, the price action is tortured, steering near the buyers to $ 143, but meets resistance near $ 150. What can achieve inverted traction in soul time, even to validate a portion of the end of the year end may depend on wider macro stabilization and the chain-chain activity may be renewed in the coming weeks.
Technical analysis highlights
- Sol dropped 11.87% intraday from $ 160.49 to reduced from $ 142.13.
- There was intensive sale between 23: 00–01: 00 UTC before the price stabilized.
- A tight consolidation range was built between $ 143.50- $ 146.50.
- Since 02:00, high climbing suggest possible rapid deviation.
- Volume reached the peak as buyers at 13:31 (31.8k Soul) and 13:39 (43.4k Soul).
- Resistance sits on $ 152; A brake above can move the short -term trend.
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