Solana (SOL) has been one of the standout cryptocurrencies in the blockchain ecosystem, thanks to its high speed and low transaction costs. However, its price has experienced volatility in recent months. Currently, SOL is trading around $145.21, with an 8.09% drop in the last 24 hours.

---

📉 Recent Technical Analysis

In recent days, SOL has faced significant downward pressure. On June 5, 2025, the price fell below the key support of $150, reaching an intraday low of $142.19. This drop is partly attributed to large volumes of selling by 'whales,' with 3 million SOL tokens entering exchanges in just three days, indicating a decrease in investor confidence.

Despite this drop, Solana maintains solid fundamentals, with over 7 million daily active wallets and more than 100 million daily transactions on its network.

---

📊 Analyst Outlook: Heading towards $300?

Analyst Kaleo has expressed an optimistic long-term outlook for SOL, suggesting that if the cryptocurrency market regains momentum, SOL could reach $300, doubling its current price. However, this scenario depends on factors such as the stabilization of Bitcoin and Ethereum and an increase in risk-taking by investors.

Other analysts also see bullish potential for SOL. For example, they estimate that if SOL surpasses resistance in the $165–$170 range, it could head towards $210–$220. Additionally, a potential 'golden cross' has been identified on the price chart, which could indicate a long-term bullish trend.

---

🔎 Key Data

Current price: $145.21 (June 6, 2025)

Immediate resistance: $165–$170

Key support: $142.19 (recent low)

200-day SMA: $178.88 (key confidence level)

34-day EMA: $162 (dynamic barrier)

Daily active wallets: +7 million

Daily transaction volume: +100 million

Whale flow: 3 million tokens sent to exchanges in 3 days

---

🧭 Conclusion

Solana faces short-term challenges due to selling pressure and market volatility. However, its solid fundamentals and the optimism of some analysts suggest significant recovery and growth potential. If the overall cryptocurrency market strengthens and SOL surpasses key resistance levels, reaching $300 could be a real possibility in the future.

---

❓ Final Question

Do you think the cryptocurrency market will recover in the coming months and allow Solana (SOL) to break its resistance to reach $300, or will the downward pressure continue? Share your opinion!

#MyCOSTrade #MarketPullback #BinanceAlphaAlert #BlackRockETHPurchase $SOL