Solana consolidates near $170: technical analysis as of May 12, 2025.
Solana (SOL) is currently trading around $171.15, with an intraday range between $168.88 and $181.48.
This behavior reflects a consolidation after the recent rally that brought its price to a peak of $294 in January 2025.
Technical analysts indicate that if SOL manages to break the resistance at $200, it could initiate a new bullish momentum.
However, a drop below the support at $160 could indicate a deeper correction.
In the long term, the firm VanEck projects that SOL could reach $520 by the end of 2025, supported by the growth of the smart contract ecosystem and the expansion of the M2 money supply in the U.S.
