A major upgrade in 'Fire,,dancer'
The Solana cryptocurrency, $SOL
has maintained a bullish outlook since the beginning of 2025. Although the cryptocurrency has not regained the upward momentum it achieved last year, most analysts and forecasting programs expect it to rise this year, potentially reaching new record levels.
In the meantime, Solana has seen a notable decline in recent days, resulting in a 16.5% drop in its price. This recent decline has brought $SOL down to the daily support area at around $140, after the price rose to $168 last Wednesday. This support level coincides with a 50% Fibonacci retracement of Solana from the recent major rise.
The daily chart for the #SOL/USDT pair
The price of Solana has retreated to a key technical support level
The price of Solana has performed strongly in recent months. The cryptocurrency resumed its upward movement on April 7, 2025, after bouncing back from its annual low of $95.
Related topics: Price Prediction $SOL : How will 3 million uninvested cryptocurrencies affect its value?
This increase resulted in the cryptocurrency, which focuses on scalability, achieving a 99% profit in less than two months after the price of SOL reached $187 for the first time since February 2025.
A look at the strong catalysts on the horizon
Along with technical charts, several key fundamental developments reinforce the long-term bullish outlook for Solana.
Analysts and analytical programs have studied the fundamental developments within the blockchain project network to predict the future price of SOL. For example, the decentralized finance development company (DFDV) announced a stock credit line agreement with RK Capital Management to raise $5 billion from its stock sales, aiming to increase the value of SOL. Analysts expect this development to enhance Solana's adoption.
Related: A mixed week for Solana: declines in SOL prices, delays in ETFs, and the emergence of policy groups
In the meantime, the Chat,,GPT artificial intelligence program expects the price of SOL to reach $400 before the end of 2025. The intelligent program pointed to factors that could enhance Solana's adoption, including the launch of network innovations like Fired,,ancer and Alpen,,glow, and tokenization initiatives through R3 partnership.
In addition to these innovations, the upcoming Solana ETF, which most analysts believe is imminent, is expected to boost SOL adoption. JPMorgan expects inflows ranging from $3 billion to $6 billion in the first year, which could lead to a massive increase in the price of Solana.
Disclaimer: The information contained in this article is for informational and educational purposes only. It does not constitute financial advice or any type of advice.
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