Solana (SOL) has recently experienced a slowdown in its price rally, falling 23% from its all-time high and over 8% in the past day. This has raised concerns among investors regarding its short-term performance as the broader crypto market faces a pullback.
Solana outperformed during its Q2 and Q3, maintaining above pre-bull run levels. In Q4, it broke above the $200 barrier, reaching a new ATH of $263 in late November. However, it now faces a retest of the key $200-$210 support zone, having dropped below $205.
Cryptocurrency analysts, like Altcoin Sherpa and Crypto Jack, have shared a potential bearish outlook if SOL fails to hold the $200-$210 region. They foresee possible dips to $180-$160 but also see these corrections as "buy the dip" opportunities for potential rebounds to new highs.
Some analysts remain optimistic, targeting highs up to $600. Bitwise's latest report even suggests a 200% rally by 2025, predicting Solana could reach $750. At present, Solana trades at $204, a significant drop on both daily and monthly charts.
