In observing Solana crypto’s price action and developments so far this year, it can be said that the crypto stands at a crucial juncture.
After pushing past $250 earlier this year, SOL was seen plummeting below primary support levels.
This has left investors questioning its next moves and watching closely for further developments. The price now hovering around $119, many are asking the same question.
Can Solana regain momentum and reach for $200 again? Or is a more profound correction on the way?
Fibonacci Levels and Market Structure Suggest Potential for More Downside
The Solana price currently stands below the 0.236 Fibonacci retracement value of $120.07.
The specific zone served as support until it became an essential resistance barrier. Future price declines are likely if a break above this point fails to materialize.
According to technical analysis, the upcoming target points towards $74.11 as the next support area, representing the 0.382 Fibonacci level.
The price action also shows a long-term horizontal support zone between $100 and $110 for more than 426 days.
The market has experienced multiple upward movements across this level since the middle of 2023.
A breakthrough of this support level would trigger potential price declines toward a minimum of $90 and a maximum of $74 in the upcoming market direction.
If Solana crypto successfully maintains this critical area above $120 and increases market activity, its price action would involve a potential move toward $150.
This important market zone has previously triggered price rebounds, thus becoming an essential monitoring point for market participants.
Volume Trends and Sentiment Show Uncertainty Among Traders
At the time of writing, Solana crypto was trading at $119.46, gaining 4.71% in the last twenty-four hours.
Its recovery above $110 indicates investors are starting to purchase at critical support areas during the day.
Market data shows a drop of 28.75% regarding short-term speculative trading based on the current $4.31 billion 24-hour trading volume.
The reduced trading volume signals weak market momentum until traders show new positive sentiment.
SOL has a market capitalization of $61.63 billion, making it one of the biggest cryptocurrency assets by value.
Since it lacks a maximum supply limit, SOL features an inflationary model, through which the current circulating supply stands at 515.91 million SOL among its 598.28 million maximum potential units.
Solana’s blockchain presents diverse indications about investor emotional attitudes.
The current Solana crypto realized price aligns with the market price, making such price points historically significant for market changes.
The funding rates for futures markets have remained hostile to neutral since January, indicating that leveraged investors practice caution.
The $120 resistance looks attainable through a sustained price rise, although detection of elevated trading activity will be necessary for a successful breakout.
Will Solana Crypto Reach $200 in 2025? Key Levels to Watch
Solana’s ability to hit $200 again this year depends on several technical and market-driven factors.
If the price reclaims the $120 resistance and maintains it with rising volume, a move toward $150 could be the next stage.
Breaking beyond previous 2024 highs would be necessary before aiming for a return to the $200 level.
With Solana’s operations expanding across the crypto sector, the future can look optimistic for the blockchain.
The market shows caution for the upcoming months since traders want to verify Solana crypto’s price stability in the $100–$120 range.
The next few weeks will be critical in setting the direction for the coming months.
The continued bearish pressure and a failure of support levels likely lead Solana crypto to fall to $90 or $74.
The price needs to surpass $120 and $150 to establish stronger possibilities for $200 by late 2025.
When making decisions, traders should check volume patterns, price movements, and support levels.